CEO SUMMARY: At the last minute, Congress added all clinical laboratories to a far-reaching provision in the newly-enacted Support for Patients and Communities Act. Unlike the Anti-Kickback Statute, this provision applies to all payers, both government and private, and offers no safe harbors. Lab experts say this new law could turn relatively innocuous and heretofore
Tag: laboratory managers
New Opioid Law Hits Labs Paying Sales Commissions
By Joseph Burns, from the Volume XXV No. 17 – December 3, 2018 issue
CEO SUMMARY: At the last minute, Congress added all clinical laboratories to a far-reaching anti-kickback provision in the newly-enacted Support for Patients and Communities Act. This provision applies to all payers, both government and private. Lab experts say this new law could have a negative effect on patient care because it could make relatively innocuous
Morgan Stanley Report Shows 8% of Hospitals at Risk of Closure
By Joseph Burns, from the Volume XXV No. 13 – September 10, 2018 issue
AMONG THE ROUGHLY 6,500 HOSPITALS OPERATING in the United States, only about 125 (2.5%) have closed in the past five years. But in the coming years, some 450 hospitals are at risk of closing. Analysts at Morgan Stanley said 600 other hospitals have weak finances that could lead them to close.
In the report, Morgan Stanley,
Why Pharma, Private Equity Want to Reshape Lab Industry
By Joseph Burns, from the Volume XXV No. 5 – March 26, 2018 issue
CEO SUMMARY: A disruptive force that involves precision medicine, pharmaceutical companies, and venture capital investors is poised to reshape the clinical laboratory industry. Genetic knowledge makes it possible to match cancer drugs to specific mutations. Pharma companies and professional investors recognize that control of diagnostic technologies and companion diagnostic tests enable them to gain better access
Health insurance fraud cases take new turn with HDL-BlueWave outcome
This is an excerpt from a 2,700-word article in the February 12, 2018, issue of THE DARK REPORT. The complete article is available for a limited time to all readers, and available at all times to paid members of the Dark Intelligence Group.
CEO SUMMARY: The outcome of the latest Medicare health insurance fraud trial has
Allegations in UHC health insurance fraud case involve multiple defendants
This is an excerpt from a 5,000-word article in the January 22, 2018, issue of THE DARK REPORT. The complete article is available for a limited time to all readers, and available at all times to paid members of the Dark Intelligence Group.
CEO SUMMARY: UnitedHealth made national news when it filed a $100 million lawsuit against
Allegations of Lab Test Fraud Involve Multiple Defendants
By Pamela Scherer McLeod, from the Volume XXV, No. 2 – January 22, 2018 issue
CEO SUMMARY: UnitedHealth made national news when it filed a $100 million lawsuit against Next Health and other defendants in Dallas in January 2017. The insurer alleged fraud involving clinical laboratory tests. That lawsuit is just the latest chapter in an almost decade-long string of legal proceedings involving the healthcare businesses some of the defendants have
Delay and Fix Is Message From Labs to Congress
By Robert Michel, from the Volume XXIV, No. 11 – August 7, 2017 issue
CEO SUMMARY: Only a few months remain before the federal Centers for Medicare and Medicaid Services makes deep price cuts to Medicare Part B clinical laboratory test fees. Before those cuts go into effect, lab associations and lab professionals are educating members of Congress and the new administration about the bias and flaws in CMS’
Six Years after Launch, Med Fusion Sold to Quest
By Joseph Burns, from the Volume XXIV, No. 9 – June 26, 2017 issue
CEO SUMMARY: In Dallas, the relatively short-lived lab company known as Med Fusion has a new owner. After seven years, the lab partnership of Baylor Scott and White, US Oncology Network, Texas Oncology, and Pathologists Bio-Medical Laboratories decided to sell their ownership stakes to Quest Diagnostics. The sale comes despite $100 million of capital and
Opko Pays $1.47 Billion to Buy Bio-Reference Lab
By Robert Michel, from the Volume XXII NO. 9 - June 22, 2015 issue
CEO SUMMARY: It’s a case of the little fish gobbling the big fish, as Opko Health—with revenue of $91 million—will be acquiring Bio-Reference Laboratories, with revenue of $832 million. But the more interesting aspect of the story is that the CEO of Opko Health is a physician worth $5 billion and highly respected by Wall Street. It could be that Bio-Reference CEO Marc Grodman, M.D., has gained a shrewd advisor and powerful ally in Phillip Frost, M.D., the Chair and CEO of Opko Health.