How many of our clients are ready to lead the industry? This issue of THE DARK REPORT provides you with an opportunity to move ahead of your competitors and gain a critical advantage. I am referring to the emergence of physician practice management (PPM) companies.
As you will read, we predict these PPMs will become important players in most regional markets. Their control of a sizeable number of physicians will give them tremendous influence on how clinical laboratory services are purchased and utilized. Once again, THE DARK REPORT is first to identify a major industry trend and offer pathologists and laboratory executives insights on how to profit.
But where we can only offer valuable advice and insight, it is up to you to act decisively upon this information. This is why I ask whether you want to be a follower or a leader. Leaders will study the phenomenon of physician practice management companies. As they learn more, they will begin contacting the right executives at these companies to build relationships. Leaders will find out how these PPMs want to purchase and use laboratory testing. They will use this knowledge to create “value-added” services which best meet the needs and expectations of PPM customers.
Those clinical laboratories first to the PPM table with good pricing, good services and a personal relationship will be the laboratories which earn the business. That is the reward for leadership.
What about those laboratory executives who decide to follow? “Wait and see” is an attitude that will put their laboratories at a competitive disadvantage with PPMs. If MedPartners, Inc., the largest PPM, now controls 10,000 physicians and $6.4 billion in sales, do you think that the three national laboratories are “waiting to see what happens?” No sir! I’ll guarantee you that each of the three laboratories has people now contacting MedPartners and other rapidly growing PPMs. They are already pressing for the business.
That means regional commercial laboratories and hospital-based labs with outreach programs will be forced to come from behind if they fail to take action now. On the other hand, assertive marketing to PPMs this early in the game will permit shrewd laboratory executives to claim a place at the table. If they do, they will earn every dollar of business that the PPM sends to their laboratory.