Jul 26, 2010 | Laboratory News, Laboratory Pathology, Uncategorized
Less funding for clinical pathology laboratory testing is just one of several market developments
Australia’s competitive market for clinical pathology laboratory testing seems poised for some major changes. Unfolding events are upsetting the pathology testing status quo in at least three ways. Caught in the middle of these disruptive forces are Australia’s big three of pathology testing: Healthscope Limited (ASX:HSP), Primary Health Care Limited (ASX:PRY), and Sonic Healthcare, Ltd. (ASX:SHL ).
The first change is linked to the federal government’s decision in recent years to scrap a decades-long pathology testing reimbursement arrangement. In 2009, it allowed the most recent price contract with the pathology testing industry to expire without renewal. Then, in November 2009, the government instituted a reduction in pathology testing fees.
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Feb 4, 2010 | Laboratory Management and Operations, Laboratory News, Laboratory Pathology
Sonic Healthcare stock slides on announcement of Medicare Australia funding changes
In Australia, funding for pathology services and clinical laboratory testing is now undergoing review by the government health service. Last month, when news broke that the Australian Department of Health and Ageing was initiating a review of pathology funding, there was an immediate response by the stock market, as reflected in the lower price for shares of Sonic Healthcare, Ltd. (ASX:SHL), Australia’s largest provider of pathology services and clinical lab testing.
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Dec 3, 2009 | Laboratory News, Laboratory Pathology
Agreement to acquire East Side Clinical Laboratory is a reminder that Sonic remains an active buyer of clinical laboratories
It’s another clinical lab acquisition and a new regional market for Sonic Healthcare Limited (ASX:SHL). Yesterday the Australian-based lab company established a beachhead in New England when it acquired East Side Clinical Laboratory, based in Providence, Rhode Island.
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Sep 2, 2009 | Laboratory News, Laboratory Pathology, Managed Care Contracts & Payer Reimbursement
Labtests succeeds Sonic’s DML as the primary lab test provider in Auckland area
One of the world’s most interest experiments in government contracting for clinical laboratory testing services is unfolding in Auckland, New Zealand. Next Monday, September 7, Labtests will assume full responsibility for testing approximately 12,000 patients per day in a brand-new laboratory facility that has only conducted testing on a limited basis since August 10, 2008.
On that same day, Diagnostic Medlab’s (DML) existing contract with the District Health Boards in greater Auckland will terminate. Earlier, on August 18, DML’s parent company, Sonic Healthcare Ltd. (ASX:SHL) of Sydney, Australia, announced plans to shutter DML’s laboratory facility and write-off its Auckland-based business division.
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