Analytics Help Clinical Laboratories Minimize Risk and Remain Innovative as Esoteric and Molecular Testing Markets Grow

Data-driven proof supports decision-making that optimizes efficiency and boosts bottom lines in the face of shrinking margins and increased competition Molecular and esoteric testing developers continue to make advanced assays and diagnostic technologies available to medical laboratories. However, some laboratory senior management and stakeholders may be reluctant to invest in them even though the market for such testing is poised for significant growth. That’s because lab shareholders might...

Scientific Paper on Private Equity Ownership in Dermatology is Removed from Peer-Reviewed Medical Journal’s Website After Dermatologists Complain

The paper’s authors stand by their research and claim “requested corrections” were to protect reputations and not correct inaccuracies Private equity companies have invested in and acquired clinical laboratories and anatomic pathology groups for the past 25 years. It’s not unusual to find private equity firms buying other medical specialty practices as well. But questioning the reasons behind such acquisitions by private corporations, or physicians’ participation in such practices is,...

Many Hospital Laboratories Must Report PAMA Private Payer Clinical Lab Test Price Data as ‘Applicable Labs’ in 2019, But Lack Systems and Expertise for This Task

Medicare officials are including most hospital laboratories in this PAMA data reporting cycle, but hospitals face $10,000/day federal penalties for not filing, filing late, or filing incomplete or inaccurate data Clinical laboratories operated by hospitals and health systems could prove to be a game changer for the lab industry in this upcoming PAMA private payer lab test price reporting cycle. But that upside comes with risk. For this reporting period, the federal Centers for Medicare and...

Implementing a New EHR at the Veterans Administration Is Taking Longer and Costing More than Earlier Estimates

With a now-estimated price tag of $16.1 billion, federal regulators and government representatives question the VA’s replacement for their VistA medical records system Originally estimated to cost $10 billion, a contract to replace the federal Department of Veterans Affairs (VA) electronic health record (EHR) system will now cost $16.1 billion, according to new estimates, and this has drawn increased scrutiny from regulators and the media. ProPublica reports that the initial deal signed in May...

New CMS Final Rule Makes Clinical Laboratory Test/Procedure Pricing Listed on Hospital Chargemasters Available to Public

Experts are skeptical of the value of public price lists based on hospital chargemasters due to complexity and poor reflection of actual costs In another big step toward helping consumers view prices of medical procedures when selecting providers, the Centers for Medicare and Medicaid Services (CMS) passed the IPPS/LTCH PPS final rule, which requires hospitals to post a full list of hospital pricing information on their websites starting January 1, 2019. Clinical laboratories, anatomic...

FDA Authorizes 23andMe to Report Results of Direct-to-Consumer Pharmacogenetics Test to Customers without a Prescription, Bypassing Doctors and Clinical Laboratories

FDA cautions patients to not use data gained from the DTC test to make healthcare decisions on their own Clinical laboratories continue to be impacted by the growing direct-to-consumer (DTC) testing market, as more walk-in lab customers order at-home tests. Now, the US Food and Drug Administration (FDA) has authorized a DTC test company to provide results of a pharmacogenetic (PGx) test to customers without needing a doctor’s order. This is the first genetic test of its kind to receive such...