CEO SUMMARY: Almost half of the nation’s hospitals and health systems are rethinking how to use their clinical labs to support clinical and financial strategies. Options range from outright sale of their lab outreach businesses to lab management agreements or joint ventures with one of the nation’s three billion-dollar public lab companies. Each of the
Tag: clinical laboratory service
Last week, 23andMe raised $250 million in a financing round led by Sequoia Capital. The company has an estimated value of $1.75 billion and has attracted $491 million in capital since its founding. In 2015, 23andMe formed a therapeutics division. This business unit is partnering with several major players in the pharmaceutical industry to use
CEO SUMMARY: It is generally recognized that the clinical lab industry faces a financial squeeze of unprecedented dimensions. Lab test prices are falling steadily and more major cuts are coming to Medicare Part B fees in just 11 months. At the same time, obtaining favorable coverage and reimbursement decisions from payers is becoming tougher. This
SEVERAL IMPORTANT clinical laboratory associations are concerned that the lab test price reporting under the Patient Access to Medicare Act of 2014 will have a negative effect on diagnostic innovation and on Medicare beneficiaries’ access to lab testing services.
The American Clinical Laboratory Association wants to ensure that the new Medicare Part B clinical laboratory fee
CEO SUMMARY: Clinical lab executives and experts who have studied the final rule for PAMA lab test market price reporting are seriously concerned that the design of this rule may put many of the nation’s smallest, but still essential, clinical labs at great risk of financial distress, if not outright failure. In this exclusive analysis,
CEO SUMMARY: Federal officials tasked with implementing the PAMA lab market price reporting requirement would be well-served to study what happened in California when the Department of Health Care Services mandated market price reporting. According to DHCS, last year, only 9% of the state’s 742 labs submitted price data! This is evidence that requiring a lab to report every payer’s
CEO SUMMARY: Physicians in Florida and their state medical associations continue to battle UnitedHealth over its laboratory benefit management program that uses the lab test ordering system by BeaconLBS, a business unit of LabCorp. The latest round in this fight is language in a Florida Senate bill that would prohibit the use of a “clinical
ARE CLINICAL LABORATORIES and pathology groups prepared for ICD-10? Or, perhaps a better question to ask is this: Are Medicare Administrative Contractors prepared to switch to ICD-10 on October 1?
In the United Kingdom, the National Health Service’s (NHS) biggest consolidation of clinical laboratory services is expected to take place in May, after the government’s Office of Fair Trading said it will conduct no further investigation into the project. Six health trusts are collaborating on this project and will create a new provider organization to
CEO SUMMARY: CMS wanted more power to cut the prices it pays for clinical lab testing. A significant part of the lab industry wanted more transparency and consistency in how CMS established coverage guidelines and prices for new lab tests. Congress appears to have attempted to craft a law intended to support both objectives. Now,