CEO SUMMARY: In Toledo, Ohio, ProMedica Laboratories uses extensive metrics to analyze almost all processes in the lab. Under a process improvement program in place for more than five years, the lab has implemented daily management to help streamline day-to-day operations. Concurrently, a newly-formed cross-functional test utilization team adopted recommendations from the Choosing Wisely campaign
Laboratory ManagementSkip to articles
Laboratory management in today’s clinical lab industry is changing rapidly and facing entirely new challenges. One problem is the lack of upcoming younger lab managers, as the retirements of baby boomer pathologists, medical technologists and lab scientists are in the near future. These individuals make up the largest proportion of supervisors, managers, and lab administrators working in labs today.
As they retire, every clinical lab and pathology group needs to have the next generation of leaders ready to step up and assume responsibilities. But, across the lab industry, there are limited opportunities for every lab’s brightest up-and-comers to get the regular management development opportunities that are common among Fortune 500 companies. The Dark Intelligence Group has called for the establishment of a mentoring program to help overcome this problem.
At the same time, downward pressure on reimbursements and mounting competition have created an environment that requires much more effort for a medical lab to grow and thrive.
Legislation, including the Health Information Technology for Economic and Clinical Health Act (HITECH) of 2009 and the Patient Protection and Affordable Care Act (PPACA) of 2010, have placed significant demands on medical laboratories and healthcare providers to improve internal efficiency even while offering more services for less money. This pressure to “do more with less” is further compounded by the need to deliver increasingly personalized client service to retain and win clients.
With the era of fee-for-service medicine coming to a close, every clinical laboratory and anatomic pathology organization needs a strategy for getting paid, as new reimbursement models that support patient-centric care will make up a larger portion of lab revenues.
The challenge for every clinical laboratory manager is to understand how to evolve from a business model that is accession-centric or volume-centric to one that is patient-centric.
Many clinical laboratories today are developing data repositories to logically link all transactional and other information about a patient. These repositories allow physicians to see all relevant information, identify trends, and provide better care as a result, enabling labs to provide greater value to their customers, patients and payers, thus creating more value and becoming more patient-centric.
CEO SUMMARY: With so many market forces working against the economic interests of clinical laboratories, it is essential that all labs develop appropriate strategies designed to sustain the quality of laboratory testing services and the financial integrity of the laboratory organization. In this intelligence briefing, XIFIN, Inc.’s CEO, Lâle White, explains five strategies that are
CEO SUMMARY: Sonic Healthcare, Ltd., announced that it would pay $540 million—a multiple of 9.2 times EBITDA—to acquire Aurora Diagnostics, the anatomic pathology company based in Palm Beach Gardens, Fla. Sonic will gain 32 pathology practice sites and add 220 pathologists to its network of regional clinical and pathology laboratories. The transaction marks the end
CEO SUMMARY: With the year end approaching, lab buyers and sellers are working to finalize deals that may have been in discussion for months. The first big lab acquisition for this season came on Nov. 27, when Quest Diagnostics announced it was acquiring Boyce and Bynum Pathology Laboratories of Columbia, Mo. The pathologists will keep
CEO SUMMARY: By cutting out smaller, regional labs, UnitedHealthcare appears to want to shift an unknown percentage of its lab test volume to Quest Diagnostics Inc., which it recently restored to its national provider network. Clinical lab directors should be concerned about this development because UHC is the nation’s largest health insurer and because other
CEO SUMMARY: This year’s list of the Top 10 Lab Industry Stories for 2018 is dominated by new directives from Medicare and private health insurers, as well as significant decisions by federal courts. Collectively, these developments create new compliance risks for all clinical laboratories and anatomic pathology groups. What is more notable about these top
IT’S AN ACQUISITION THAT BRINGS TOGETHER two different gene sequencing technologies into one firm. On Nov. 1, Illumina, Inc., announced an agreement to acquire Pacific Biosciences (PacBio) for $1.2 billion.
This deal will bolster Illumina’s already-dominant position in the market for DNA-sequencing machines. Wall Street analysts quickly pointed out that this gives Illumina control of two gene
BUILDING ON THE LESSONS IT LEARNED by developing lab services that helped primary care physicians identify, diagnose, and treat diabetes patients in their practices, Sonic Healthcare USA was ready to do the same for another disease.
Sonic wanted to go beyond simply reporting an accurate and timely lab test result. Instead, it wanted to leverage the
CEO SUMMARY: In the span of four days in September, Quest Diagnostics agreed to buy two lab companies and the lab testing service line of a third firm. In August, it purchased wellness company Provant Health, which had earlier filed a bankruptcy action. Each of these transactions helps Quest concentrate more on proprietary products and
In a time of shrinking lab budgets and falling prices for lab tests in the United States, how are the larger in vitro diagnostic (IVD) manufacturers doing? A look at third-quarter financial reports provides useful insights as to which segments within the IVD industry are doing better than others.
In alphabetical order, here’s a quick snapshot