CEO SUMMARY: In Dallas, the relatively short-lived lab company known as Med Fusion has a new owner. After seven years, the lab partnership of Baylor Scott and White, US Oncology Network, Texas Oncology, and Pathologists Bio-Medical Laboratories decided to sell their ownership stakes to Quest Diagnostics. The sale comes despite $100 million of capital and
Tag: cancer testing
CEO SUMMARY: Taken collectively, the growing number of federal investigations of clinical lab companies and health insurer lawsuits against lab companies alleging fraudulent business practices signals a disturbing new trend for the lab industry. Although these allegations are leveled at just a handful of lab companies, the amount of money these labs took out of the system exceeds a billion dollars. Some experts expect payers will enact tough requirements to stop such abuses.
CEO SUMMARY: Clinical laboratories of all sizes are poised to become the source of much of a hospital or health system’s “big data.” At many academic center labs, greater use of genetic and molecular testing requires that more space and more staff be devoted to data management. At the same time, the latest generation of gene sequencing instruments and molecular analyzers are cheaper, faster, and more automated. These systems make it feasible for even smaller labs to offer sophisticated genetic tests.
CEO SUMMARY: Swift transformation of the American healthcare system is causing financial challenges for those clinical labs and pathology groups that have been slow to react to these developments. At NorDx Laboratories in Scarborough, Maine, the team is following the classic five rules for laboratory success. However, as NorDx CEO Stan Schofield said in his
CEO SUMMARY: Authorities for Eastern Health in Newfoundland and Labrador province in Canada are conducting a root cause analysis after finding discrepancies in breast cancer testing that affected nine patients. Health officials said these cases were discovered as a result of an improved quality assurance testing program and are unrelated to problems that plagued Eastern
ALBERTA PROVINCE MAY SOON BID $3 BILLION CLINICAL LAB CONTRACT
NEWS LEAKED ON SEPTEMBER 19 that Alberta Health Services (AHS) is preparing to issue a request for proposal (RFP) to select a company to build a state-of-the clinical laboratory facility to serve Edmonton, Alberta, and the surrounding region.
A news report published by the Edmonton Journal stated
CEO SUMMARY: Based on an impressive number of 4,230,129 vials collected from 437,937 biopsies, the new study is expected to add fuel to the fire of the ongoing debate about the appropriate number of prostate biopsies physicians should collect and refer to pathology labs for cancer testing. The researchers compared the number of prostate biopsies
CEO SUMMARY: Ascend Clinical and PathCentral see an opportunity to provide sophisticated services to community pathology groups. Ascend Clinical will expand the molecular diagnostic and gene sequencing business it is purchasing from PathCentral. PathCentral will concentrate on marketing its cloud-based anatomic pathology LIS solution and launching a pathology professional network early in 2013. Each company
IN RECENT WEEKS, two of the nation’s larger public laboratory companies issued their earnings reports. In both cases, revenue growth was strong, a distinct difference from the recent financial performance of their two largest lab public company competitors.
It was on August 21, 2012, when Sonic Healthcare, Ltd., of Sydney, Australia, issued its financial performance for
HOSPITAL LAB CLOSED, STAFF EVACUATED AFTER LAB SPECIMEN SPILL
IT’S NOT OFTEN THAT A HOSPITAL LABORATORY needs to be closed and decontaminated following a lab accident. Yet that is what happened on April 2 at 495-bed Grand River Hospital in Kitchner, Ontario.
The problem was caused by the release of the soil fungus coccidioides when a specimen