CEO SUMMARY: For the first time in recent memory, a year has passed without major tumult or disruptive change in the laboratory industry. Our list of the Top Ten Most Important Stories of 2008 reflects a rather quiet year when compared to most years of this decade. However, events continue to unfold in healthcare and
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: Criticism of the October 1, 2011 implementation date for ICD-10 is building. Last week, a new study was released that highlights how federal officials underestimated the costs and time required to implement the complex new codes for ICD-10. One large national laboratory company estimates it will spend at least $40 million to prepare
CEO SUMMARY: Even though the transition from ICD-9 to ICD-10 will not be required until 2011, laboratories and pathology groups should have a transition plan in place. ICD-10’s 155,000 seven-digit codes will replace the 17,000 five-digit codes of ICD-9. Because of major changes in the design of ICD-10, extensive training of laboratory coders will be
CEO SUMMARY: Pathology Service Associates, LLC, has found a merger partner that will allow it to offer more products to its pathology clients and to expand into new service areas. By merging with MED3000 of Pittsburgh, Pennsylvania, PSA also gains access to enhanced informatics capabilities that it can roll out to its pathology group clients.
ALTHOUGH ICD-9 IS CONSIDERED inadequate to effectively meet the needs of today’s healthcare system, a number of hurdles prevent implementation of the proposed ICD-10 codes.
Of equal significance is another problem intertwined with the inadequate ICD-9 coding system: a nationwide shortage of coders. A 2001 survey by the American Hospital Association revealed an 18% vacancy rate
SPECIALTY LABORATORIES REPORTS THIRD QUARTER FINANCIAL PERFORMANCE
THIRD QUARTER FINANCIAL REPORTS for Specialty Laboratories, Inc. show that the company is returning to a more normal routine, following the two unusual and unrelated events which hit it during 2002.
Specialty Labs reported net revenue of $29.9 million for third quarter 2003. This is a decline of 9.7% from
IT WAS A BUSY TIME LAST WEEK on the lab industry meeting circuit. THE DARK REPORT made the rounds and uncovered some valuable intelligence for lab directors and pathologists.
First on the meeting tour was Philadelphia, site of the American Association of Clinical Chemistry (AACC) annual convention, held July 21-25. The number of exhibitors and the size