GeneCentric is a new lab testing company in Durham, North Carolina that was started by former executives of Laboratory Corporation of America. It intends to raise $20 million in a Series B capital offering. GeneCentric’s business model is to license molecular diagnostic tests, then develop the clinical trial data required to obtain coverage guidelines and
CEO SUMMARY: In concept, it is a simple deal. Catholic Health Initiatives (CHI), the nation’s second largest Catholic health system, is taking a 25% equity position in Pathology Associates Medical Laboratories (PAML). However, the consequences may be significant. PAML now has an open door to develop laboratory joint ventures with the 78 hospitals operated by
MASSACHUSETTS LAW MANDATES CPOE USE BY HOSPITALS IN 2012
EARLIER THIS YEAR, Massachusetts passed a law that requires all hospitals in the state to implement CPOE (computerized physician order entry) by 2012. The same law requires all hospitals in the state to adopt electronic medical record (EMR) systems by 2015.
There are 73 acute care hospitals in
CEO SUMMARY: For the past eight years, growing numbers of hospitals and health systems have launched laboratory outreach programs. Hospital CEOs are recognizing that laboratory outreach programs generate worthwhile operational gains, along with steadily-increasing revenues. However, laboratory outreach programs also require a significant capital investment, because the hospital laboratory needs to match the service levels
“A well-structured laboratory joint venture helps the hospital partner tap the unrealized value of its laboratory, because the independent lab partner provides capital, along with experience, and expertise to serve and build outreach market share.”
—Thomas Tiffany, Ph.D., CEO, Pathology Associates Medical Laboratories
CEO SUMMARY: Earlier this month, MountainStar Healthcare Network of Salt Lake City, Utah, and
WHEN THE NEW LABORATORY JOINT VENTURE between MountainStar Healthcare Network of Salt Lake City, Utah, and Pathology Associates Medical Laboratories (PAML) of Spokane, Washington, was announced on November 1, most people were not aware of an important fact. (See Dark Daily, November 5, 2007.)
MountainStar Healthcare Network is owned by Hospital Corporation of America (HCA), of
CEO SUMMARY: Hospital laboratory executives should pay close attention to how federal prosecutors develop their case against Columbia/HCA. Earlier “Labscam” settlements with commercial laboratories and hospital laboratory billing practices centered around restitution and fines for improper billing. In the case of Columbia, criminal charges against key executives will be an overarching part of this investigation.