TAG:
quest diagnostics and labcorp
Two Blood Brothers Report Declines in Revenue-Per-Req
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 Laborator…
Report Shows Price Drop for Most Molecular Tests
CEO SUMMARY: In recent weeks, labs are reporting that Medicare contractors have begun to issue payments for molecular test claims filed—but unpaid—since January 1, 2013. A newly-issued analysis of this situation by Quorum Consulting indicates that, for many molecular assays, Medicare …
Medicare Taken to Task about Molecular Test Pricing Method
EDITOR’S NOTE: Submitted by Lâle White, CEO of XIFIN, Inc., of Carlsbad, California, this letter describes the problems caused by the Medicare program’s failure, as of January 1, 2013, to be ready to process and reimburse lab test claims for more than 100 new mo…
Competitive Bidding: Once Again, It’s Back!
CEO SUMMARY: For the clinical lab industry, the concept of competitive bidding for Medicare Part B Clinical Lab Testing may be like the movie “Groundhog Day.” The hero, Bill Murray, kept reliving the same day over and over. So it seems to be with competitive bidding. In the latest rep…
Quest Diagnostics and LabCorp Report Q-4, Full Year Earnings
IN RECENT WEEKS, each of the nation’s two largest public laboratory companies reported earnings for fourth quarter 2011 and full year 2011. Organic growth at both lab companies continues at low single-digit rates. This continues the pattern of relatively modest growth that has been posted by each …
Today’s Lab Test Model Won’t Survive Reforms
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 a…
Former Lab CEO Explains Why He Filed Lawsuit
CEO SUMMARY: It may be the first time that a former public laboratory CEO has turned whistleblower. Andrew Baker, formerly Chairman and CEO of Unilab Corporation in the 1990s, filed a qui tam case in federal court last year that centers on the practice of lab companies offering private he…
Final Three Labs Settle California Qui Tam Case
CEO SUMMARY: In recent months, the California Attorney General (AG) entered into settlement agreements with the last three defendant laboratory companies involved in the Medi-Cal discount pricing whistleblower lawsuit. The AG did not make this news public. In their respective settlement a…
Quest Diagnostics and LabCorp Report Second Quarter Earnings
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 Diagn…
What Comes Next in Battle Over Discount Lab Prices?
CEO SUMMARY: Now that the settlement involving Quest Diagnostics Incorporated and the California Attorney General has been announced, attention turns to what comes next with the four remaining defendant lab companies in the whistle-blower lawsuit. There are several different scen…
CURRENT ISSUE
Volume XXXI, No. 5 – April 8, 2024
The fragmentation of consumer markets is reflected in clinical lab services, and The Dark Report examines this trend and how it will impact labs in the coming years. Also, The Dark Report notes that the FDA has issued a controversial memo to reclassify many high-risk IVD assays.
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