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Volume XX No. 7 - May 28, 2013

Financial Hurricane Hits Entire Lab Testing Industry

Commentary and Opinion by R. Lewis Dark / By

FOR ABOUT 18 MONTHS NOW, THE ENTIRE LABORATORY TESTING INDUSTRY has been hit by an ongoing series of painful cuts to lab test fees and announcements of more restrictive coverage guidelines. Even today, there is additional news of rock bottom prices to share with you. In this issue, you’ll read about Aetna, Inc.’s latest strategy …

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Much Uncertainty About Pay for Molecular Codes

Laboratory Billing / By

CEO SUMMARY: Having gone unpaid since January 1 for the 114 new molecular CPT codes, many clinical labs and pathology groups have stopped running these tests or laid off staff. Some are considering closing their doors. Evidence indicates that certain Medicare contractors are deciding that some molecular tests are not medically necessary. Medicare officials launched …

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Health Insurers See Big Increase in Lab Utilization

Laboratory Management / By

CEO SUMMARY: In a recent public workshop, managed care executives revealed that the annual cost of outpatient laboratory testing is increasing at twice the rate of all other medical services. One big driver in the increased spending on lab testing is increased utilization of lab tests by physicians—particularly expensive molecular diagnostic assays and genetic tests. …

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Why One Molecular Diagnostics Company Closed Its Doors

Molecular Diagnostics / By

CEO SUMMARY: When executives closed the doors of Pathwork Diagnostics last month, the simple explanation was that reimbursement for its proprietary molecular diagnostic test was inadequate. Indeed, that was part of the story. But other factors played significant roles in impeding growth at this lab company. Here is an inside look at six factors which …

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Aetna To Lower Lab Test Prices, New Fees Are Effective on July 1

Managed Care Contracts / By

IN RECENT MONTHS, labs are reporting the receipt of letters from Aetna, Inc., announcing that it will pay dramatically less than Medicare prices for many key lab tests. Aetna said that these lower prices will take effect on July 1, 2013. Three examples illustrate the deep fee cuts that Aetna is attempting to push onto …

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May 28, 2013 “Intelligence: Late Breaking Lab News””

Late Breaking Lab News / By

Globalization of laboratory medicine continues to move forward. Two recent examples illustrate this trend. Earlier this month, the University of Pittsburgh Medical Center (UPMC) announced that it had entered into an agreement with the Citizens Hospital of Hyderabad, India, to form a clinical pathology laboratory in that city. The laboratory will be located on the …

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