1. CMS Sticks by Decision to Deeply Cut Medicare Part B Lab Test Fees
SHORT OF A MIRACLE, the clinical laboratory industry is less than three weeks from the single most financially-disruptive event of the past 30 years. On Jan. 1, the federal Centers for Medicare and Medicaid Services will impose deep cuts to Part B
More venture capital money is moving into the medical laboratory industry in India. In September, Metropolis Healthcare Ltd of Mumbai, India, disclosed that Carlyle, a private equity company, had purchased a 36.5% ownership interest in the lab company. In April, Warburg Pincus sold its 27% in Metropolis to another share- holder, the Sushil Shah family.
Metropolitan Health is a company
REIMBURSEMENT FOR CLINICAL laboratory testing has declined, particularly for molecular tests. As a consequence, the nation’s two largest laboratory testing companies are feeling the negative effect of lower lab test prices.
Both Quest Diagnostics Incorporated and Laboratory Corporation of America issued their third quarter earnings reports last week. Their respective performances provide insights into several unfolding
THERE IS GREAT FRUSTRATION ACROSS THE LABORATORY MEDICINE PROFESSION on the subject of getting paid for claims covered by the new Tier I and Tier II molecular test CPT codes. We are now in the fifth month of the year and pathologists are still waiting for an acceptable resolution to this situation.
CEO SUMMARY: For more than three decades, independent lab companies have waxed fat by increasing their respective market share of lab test referrals from office-based physicians. This era is poised to end as growing numbers of office-based physicians begin to practice medicine within an accountable care organization (ACO) or similar new integrated care delivery model,
JUST ONE DAY APART, the nation’s two largest laboratory testing companies reported second quarter and half-year earnings for 2011. Each financial report opened a window into marketplace developments for the first six months of this year.
First to release its earnings report was Quest Diagnostics Incorporated. On July 20, it announced that quarterly net revenue was
CEO SUMMARY: Recent events in California, triggered by a lab whistleblower lawsuit filed in 2005 and unsealed in 2009, provide the latest example of how these lawsuits and related government enforcement actions can cause fundamental changes in the pricing and marketing practices that labs and other providers can use while staying within the laws that
CEO SUMMARY: From the perspective of the average citizen, it would appear that Quest Diagnostics scored two major “wins” over the California Attorney General in the negotiations as to how the whistleblower lawsuit was to be settled. Language in the settlement agreement would indicate that current lab sales and marketing practices involving deeply-discounted test prices
CEO SUMMARY: For decades, California’s lab testing market has been considered the Wild West because clinical lab companies have felt relatively free to offer deeply-discounted prices to expand market share and take business away from competitors. Now these discounted pricing practices are being scrutinized by no less than three government bodies. First came a whistleblower
CEO SUMMARY: It is unprecedented for two multi-billion-dollar health systems to announce laboratory testing outreach joint ventures just days apart. In Los Angeles, Providence Health & Services will partner with PAML to start a commercial lab company in the San Fernando Valley. In Denver, Centura Health and PAML formed a similar clinical laboratory testing joint