CEO SUMMARY: Health Network Laboratories cut costs and shortened lab test turnaround time by converting paper requisitions to digital data. It did so by scanning paper requisitions and having a vendor do the required data entry. This helped the lab reduce errors in its patient data. Using this paper-to-digital system allowed the lab to adopt
Tag: specialty lab
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
This is an excerpt from a 2,400-word article in the Nov. 20, 2017 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: Here at the dawn of the new era of value-based
CEO SUMMARY: With each passing year, the primary role of hospital and health system labs evolves in a different direction than that of independent lab companies. This trend is a response to the creation of integrated delivery networks paid on value and how they are scored on their ability to keep patients out of hospitals
CLINICAL LABORATORIES WITH A HIGH percentage of Medicare Part B lab test reimbursement are expected to suffer the most under the Part B Clinical Laboratory Fee Schedule (CLFS) cuts that the Centers for Medicare and Medicaid Services proposed Sept. 22.
With the proposed rates scheduled to go into effect on Jan. 1, that leaves just 12
CEO SUMMARY: In five months, Medicare officials will implement a new Part B clinical laboratory fee schedule based on private payer lab price data submitted by certain medical laboratories required to report that data. At this year’s Executive War College, the CEO of XIFIN, Inc., reported on her company’s analysis of the payer price data
TODAY, THE LAB INDUSTRY FACES A CONTRADICTION when setting prices for individual lab tests. At one extreme, a certain sector of labs seeking to win exclusive managed care contracts sets high-volume routine test prices at or below the fully-loaded cost to perform those tests. At another extreme, laboratory companies with specialty molecular and genetic tests
BANKRUPTCY IS THE LATEST CHAPTER in the business story of uropathologist David G. Bostwick, MD. On March 15, Bostwick Laboratories Inc. filed for Chapter 11 protection with the U.S. Bankruptcy Court for the District of Delaware.
That same day, Poplar Healthcare, LLC, a specialty lab company in Memphis, agreed to buy the lab company in Glen
In recent weeks, two different lab transactions were announced. One involved a hospital laboratory management contract and the other was a potential merger of two anatomic pathology lab companies. The first announcement came on October 31, when Lovelace Health System of Albuquerque, New Mexico, released news that it entered into an “inpatient and outpatient laboratory
IN AN ANNOUNCEMENT MADE LAST MONTH, Mayo Medical Laboratories said that it would close the lab facility it operates in Andover, Massachusetts, by the end of the year.
As a result of this move, Mayo will eliminate 105 jobs in this leafy suburb north of Boston. For 20 years, MML has operated the lab in Andover, its only facility in New England.
News outlets reported