CEO SUMMARY: Last year, Kailos Genetics stopped collecting third-party payment, dropped its prices sharply, and started marketing its genetic-screening tests directly to consumers and physicians. At the time, 100% of its revenue came from third-party payers. Today, it gets 100% of its revenue from consumers. After eliminating third-party payment, revenue dropped precipitously, but is now
Tag: genetic screening
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.
IF NAVIGENICS INC. HAD A SLOGAN to match its business model, it might be, “Damn the torpedoes. Full speed ahead!” Last month the personal genomics testing company acquired a clinical testing laboratory.
In a deal with Affymetrix, Inc., Navigenics purchased the Affymetrix Clinical Services Laboratory, a CLIA-certified testing facility in Sacramento, California. This lab provides molecular
Has the disappearance of much despised closed panel HMOs eased the financial woes of physicians? Apparently not, according to a recent study. Medical groups are losing money. Nationwide, the average loss-per-physician by medical groups was
$3,977. In the 2003 survey, 25,784 physicians responded, a 26% increase from 2002. The study was conducted jointly by the
CEO SUMMARY: Two pioneering advertising campaigns launched in September. Both Myriad Genetics and IMPATH targeted consumers with advertisements about diagnostic testing. In each case, the most vocal response to the advertising came from within the medical community. Within the pathology profession, IMPATH’s full-page advertisement in the New York Times Sunday Magazine was not well-received by
AETNA RECOMMENDS PAYERS SUPPORT GENETIC SCREENING TESTS
ALL LABORATORIANS SHOULD send a special note of thanks to Aetna Chairman and CEO John W. Rowe, M.D. for his recommendation that the health industry support the concept of genetic testing.
He made these recommendations as part of speech delivered at the Inaugural Symposium on Genetic Privacy and Discrimination, held
DIRECT-TO-CONSUMER ADS FROM MYRIAD GENETICS TO START THIS FALL
FOLLOWING THE EXAMPLE of the pharmaceutical industry in using direct-to consumer advertising to build drug sales, Myriad Genetics, Inc. is about to launch an advertising campaign for its predictive genetics tests.
Beginning this fall, consumers in Denver and Atlanta will see a television, print, and radio campaign touting
ESOTERIX, INC. LAUNCHES TEST REPORTS VIA WEB BROWSER
WEB-ACCESSED LAB TEST REPORTING is now available at Esoterix, Inc., based in Austin, Texas.
The accomplishment represents a major milestone for the lab company. It now has a common lab test reporting capability that draws data from all its specialty testing divisions. Esoterix was formed several years ago when