CEO SUMMARY: Advances in the speed, accuracy, and cost of next-generation gene sequencing making it possible for clinical labs to create thousands of new tests. How many new tests? NextGxDx, an information technology company, says the nation’s clinical laboratories are introducing new molecular and genetic tests at the rate of 10 per day! The company,
Tag: specialty lab
CEO SUMMARY: There is a new buyer for lab test data, creating an opportunity for labs to build a new revenue stream. Medivo, Inc., of New York, describes itself as a healthcare data analytics company whose mission is to unlock the power of lab data to improve health. It works with clinical labs and pathology
CEO SUMMARY: During 2015, two stories captured the full attention of most pathologists and clinical lab managers. One was how CMS intends to gather lab price market data as mandated by PAMA. The other was the continued efforts by the FDA to move ahead on proposed guidance for regulation of LDTs. However, the full list
CEO SUMMARY: Soon, the nation’s newest laboratory benefit management company will begin working for Blue Cross Blue Shield of South Carolina. Avalon Healthcare Solutions committed to BCBSSC that it can save money off what the health plan has been spending on clinical lab testing. It will do so with algorithms supported by evidence-based medicine, good
WE ARE JUST ABOUT EIGHT WEEKS FROM THE ADVENT OF 2016. Given the rapid transformation of healthcare that continues to unfold, it is timely to assess how clinical labs and pathology groups are likely to fare during the coming year.
On the plus side, the ongoing evolution toward integration of clinical care will benefit hospital-based laboratories.
CEO SUMMARY: In this second phase of the whistleblower case against three cardiology testing labs and a sales consulting company, federal prosecutors are requesting a jury trial against the individuals named in the court documents filed August 7. Federal investigators alleged that executives at one lab began a fraud scheme in 1999 and then expanded that scheme to other labs over 15 years. The suit claims that the labs made improper payments to referring physicians.
CEO SUMMARY: Changes in healthcare are motivating health insurers and the nation’s largest lab testing companies to enter into contracts in which the large lab company lowers its lab test prices to the payer in return for having the payer exclude that lab company’s toughest competitors from the payer’s provider network. A number of lab
CEO SUMMARY: It may sound ridiculous to assert that the nation’s largest health insurers are now “waging war” against clinical labs. However, some very smart people in the profession of laboratory medicine are expressing this opinion. To support such a conclusion, they point to payers’ recent drastic price cuts and network contracting strategies. Moreover, these
RECENTLY TWO WHISTLEBLOWER LAWSUITS, each alleging Medicaid fraud by Quest Diagnostics Incorporated and Laboratory Corporation of America, have become public knowledge. One case is in Virginia and the other case is in Georgia.
Both lawsuits were filed by Hunter Laboratories, LLC, of Campbell, California, and its CEO Chris Riedel. Both lawsuits involve charges of alleged fraud
Geisinger Health System broke ground last month on construction of a new $52 million medical laboratory facility. It will be 115,000 square feet and will be located at the site of the Geisinger Medical Center in Danville, Pennsylvania.
LAB COMPANY COMPLETES IPO
Cancer Genetics, Inc., of Rutherford, New Jersey, completed an initial public offering (IPO) and