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: lab costs
STEP BY STEP, HEALTHCARE IN THE UNITED STATES is moving toward a system in which clinical care is fully integrated and providers are reimbursed for the value they provide. This trend presents clinical laboratories and anatomic pathology groups with a challenge and an opportunity.
The challenge comes because being a value-added contributor requires labs to adopt
CEO SUMMARY: THE DARK REPORT has uncovered a previously unnoticed trend that turns common wisdom on Wall Street upside down: Hospitals and health systems may be taking back control of their their laboratory outreach programs instead of selling them, and committing major resources to their inpatient labs instead of outsourcing their management. This joint venture
CEO SUMMARY: In every partnership, each member has a unique point of view. Following the announcement of a new laboratory joint venture company involving ProMedica Health System and Sonic Healthcare USA, the Sonic executive who worked with ProMedica’s administrators to develop the JV explained why Sonic is bullish on this hospital laboratory outreach joint venture
CEO SUMMARY: Fast-growing ProMedica Health System of Toledo, Ohio, agreed to a laboratory joint venture with Sonic Healthcare USA. As lab budgets and prices for lab tests are squeezed downward, ProMedica sees opportunity to add volume to this new core lab facility to improve efficiency and reduce costs per test. At the same time, it
This is an excerpt from a 883-word article in the August 20, 2018 issue of THE DARK REPORT. The complete article and two related articles are available to all readers, with a three-article cap.
CEO SUMMARY: Common wisdom on Wall Street is that many hospitals and health systems question the value of continuing in the lab
CEO SUMMARY: Members of Joint Venture Hospital Laboratories in Michigan anticipate that the 2018 Clinical Laboratory Fee Schedule rates being implemented under PAMA will lower payment from Medicare to less than the cost of running tests, especially for rural and critical access hospitals. CMS established the 2018 CLFS under the Patient Access to Medicare Act
CEO SUMMARY: Miraca Life Sciences amended its merger agreement with Avista Capital Partners after the lab lost value in the two months since the agreement was signed in September. Factors precipitating the revision were a significant decline in reimbursement rates, stiff competition from physician-office labs (POLs), and a loss of specimen volume to POLs and
CEO SUMMARY: Announced last month, the new laboratory joint-venture partnership with Sonic Healthcare’s Sunrise Clinical Laboratories will allow WCHN to compete with other health systems and prepare to respond to health insurers’ requests that hospital systems offer lower rates in value-based payment models. WCHN has already seen payers shift to low-cost providers. For this reason,
ANOTHER ACADEMIC MEDICAL CENTER decided to cash in on the value of its outreach lab. On Jan. 10, Laboratory Corporation of America announced it would acquire the lab outreach business of Mount Sinai Health System of New York City.
Terms of the transaction and purchase price were not disclosed. The deal is expected to close by