CEO SUMMARY : This fourth installment of this special series about the laboratory value pyramid introduces “Level Four: Use Benchmarks to Achieve Best-in-Class.” This is the highest level of the four level pyramid. When a lab organization performs at this level, it will be delivering substantial measurable value to all stakeholders and it will have the metrics to substantiate this value. At the same time, the performance of a level four lab can be validated by its use of recognized third-party benchmarks that show it is performing equal to the best labs in the United States and across the globe. It will also have customer survey data showing it meets and exceeds its customers’ expectations.
Tag: cost management
CEO SUMMARY: In recent months, officials from the Blue Cross and Blue Shield Association (BCBSA) have responded to the concerns about new billing protocols for services provided as part of the BlueCard program and voiced by such clinical lab associations as the California Clinical Laboratory Association (CCLA) and the National Independent Laboratory Association (NILA). BCBSA
CEO SUMMARY: BeaconLBS is a new business created by Laboratory Corporation of America. It says it wants to help health insurance plans manage molecular diagnostics and genetic testing. BeaconLBS is now recruiting other clinical labs to join its network and is meeting with payers to offer its lab test pre-authorization services. What may make BeaconLBS
CEO SUMMARY: PhyTest, Inc., created a unique business model upon its founding in 1998. It primarily specializes in handling laboratory test billing and collection services to office-based physicians. It also provides evaluation, consulting, and implementation services to help physicians in client-bill states establish discounted billing relationships with reference laboratories. To avoid Stark Law issues on
Without much fanfare or notice, Liposcience Inc. of Raleigh, North Carolina tested the waters for an initial public offering (IPO) last month. It found market conditions unfavorable for its proposed offering of $92 million and deferred its IPO. Liposcience, with annual revenues of $18.5 million, markets a cardiovascular test built upon nuclear magnetic resonance (NMR)
This chapter addresses the characteristics of the laboratory industry which define the starting point for changes and ongoing evolution. The eight business premises listed in this White Paper describe unique situations which directly influence the ability of clinical laboratories to serve the medical community.
The relevance of these business premises becomes apparent whenever a laboratory undertakes
CEO SUMMARY: We offer our second installment about the ten management myths which led the clinical laboratory industry astray during the 1980s and 1990s. Regretfully, clients responding to part one of this series tell us that these management myths remain alive and well—and continue to steer many well-intended but misguided laboratory managers in the wrong
CEO SUMMARY: Changes to healthcare continue to stimulate responses from independent commercial laboratories. This time it’s a merger of Las Vegas-based Associated Pathologists Laboratories with American Medical Laboratories of Chantilly, Virginia. This combination creates the third-largest commercial laboratory organization in the United States and shows that size is still important.
CONSOLIDATION OPPORTUNITIES continue to fuel mergers
CEO SUMMARY: In a number of states, certain HMOs have ceased servicing Medicaid patients. This trend will grow. It is the spearpoint for a coming battle between government healthcare programs and private healthcare providers: What level of reimbursement is adequate to provide appropriate care? Who gets to set the reimbursement levels?
LABORATORIANS SHOULD PAY CLOSE attention
CEO SUMMARY: Consolidation and integration of healthcare services will be the dominant trend during the next five years. It happened to commercial laboratories from 1985-95. Widespread hospital consolidation began around 1990 and continues today. Now consolidation is coming to physicians. As physician practices consolidate and come under the management of multi-billion dollar national corporations, both