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Manhattan Labs Gets Infusion of Equity Cash
CEO SUMMARY: Manhattan Labs tapped a private equity company for growth capital last month. The company says its strategy is to deliver concierge-level quality lab services to the high-end physicians and patients within the tri-state area of New York, New Jersey, and Connecticut. These are…
Low 2013 Molecular Rates May Bankrupt Some Labs
CEO SUMMARY: Many of the recently issued reimbursement rates for molecular diagnostic tests are inadequate and in fact are lower than the cost of running the tests, lab experts say. Smaller laboratories that specialize in developing and selling molecular tests could be forced to close. As…
Ascend Clinical Acquires PathCentral Lab Business
CEO SUMMARY: Ascend Clinical and PathCentral see an opportunity to provide sophisticated services to community pathology groups. Ascend Clinical will expand the molecular diagnostic and gene sequencing business it is purchasing from PathCentral. PathCentral will concentrate on marketing i…
NY Hospital Closed Due to Deficiencies in Lab
CEO SUMMARY: Lab executives and pathologists have long read about the deteriorating finances at many rural hospitals, along with their struggles to recruit and retain enough skilled laboratory staff. Now the closure of the laboratory at 37-bed E.J. Noble Hospital in Gouverneur, N…
Lab Director Blows Whistle, NY Closes Hospital Lab
CEO SUMMARY: Unable to overcome problems at a rural hospital laboratory caused by the parent hospital’s financial problems and the inability of the hospital to recruit adequate numbers of lab staff, the laboratory director terminated his agreement with the hospital and notified the New …
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…
Hospital Labs Feel More Pressure to Lower Prices
CEO SUMMARY: It’s a new trend and gathering momentum. At managed care contract renewal time, more hospitals and health systems report much stronger pressure from health insurers to accept deep cuts to laboratory test prices. At the same time, managed care companies are getting smarter 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…
Destructive Tornado Hits Joplin Hospital, Lab Rebuilds Swiftly
CEO Summary: One week after one of the worst storms ever to strike a hospital in the U.S., St. John’s Regional Medical Center in Joplin, Missouri, was back treating patients. Surprisingly, the hospital’s lab was one of the first departments to get up and running again. Within…
Smaller Pathology Groups Explore Consolidation
CEO SUMMARY: In eastern Washington State, InCyte Pathology is developing a strategy that may well be repeated many times over in the coming years. As older pathologists who run smaller groups look to retire, they will consider selling their group practices to larger entities inte…
CURRENT ISSUE
Volume XXXI, No. 6 – April 29, 2024
Laboratory managers will want to note that The Dark Report itself was targeted by the fraudsters who hit Change Health in a cyberattack. Also, one lab has some innovative methods of combatting the chronic staffing shortage, including hiring college graduates and students.
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