Oct 4, 2010 | Laboratory News, Laboratory Pathology, Laboratory Testing
Much medical laboratory testing done in support of cholesterol and cardiovascular management
In many cases, a prescription for a therapeutic drug is the result of a medical laboratory test. Thus, pathologists and clinical laboratory managers might be interested in knowing which drugs topped the 2010 IMS Health Incorporated list for most-prescribed pharmaceuticals.
Topping the list is the combo drug hydrocodone acetaminophen, which is primarily taken to control pain. This blended opiate/analgesic is marketed under various brand names, such as Vicodin, depending on the manufacturer and quantity of the individual drugs.
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Oct 1, 2010 | Laboratory Pathology, Management & Operations
No clinical pathology laboratories are known to have ceased serving Medicare and Medicaid patients
It’s widely acknowledged by physicians and other providers that Medicaid reimbursement in many states is significantly less than the true cost of providing the service. There are also many types of health procedures where Medicare reimbursement fails to fully reimburse the provider. Thus, it is an important signal when two prominent healthcare organizations announce that—in certain locations and for certain services—they will no longer serve Medicaid or Medicare patients.
Pathologists and clinical laboratory managers will soon see an increasing number of healthcare providers decide to cease serving Medicare and/or Medicare patients. Just in the past 12 months, such nationally respected healthcare organizations as Walgreens and Mayo Clinic have announced that, in certain markets, they will no longer serve new Medicare and/or Medicaid patients. The details of these decisions are revealing.
In the State of Washington, earlier this spring, Walgreens (NYSE:WAG) announced that all 121 of its pharmacies in the state would no longer accept new Medicaid patients. This followed an earlier announcement by the Bartell Drugs chain that its 44-store chain would also no longer serve new Medicaid patients in Washington State.
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Sep 17, 2010 | Laboratory News, Laboratory Pathology
Clinical laboratories and pathology groups are likely to need LIS upgrades
Clinical laboratories and anatomic pathology groups may soon face the need to upgrade or switch their laboratory information system (LIS) to a version that is HIPAA 5010 and ICD-10 capable. This is likely to be an overlooked consequence of the mass adoption of electronic medical record (EMR) systems by physicians across the country.
Between 2011 and 2015, it is predicted that 350,000 or more physicians will implement an EMR and use it in their daily practice. This is happening because of the federal incentives provided by the HITECH Act. The scale of the coming tidal wave of EMR adoption is revealed in a recent Frost & Sullivan report .
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Sep 6, 2010 | Laboratory Management and Operations, Laboratory News, Laboratory Pathology
New resource library on clinical pathology laboratory management can be accessed via Web
There is a new resource library for clinical laboratory managers and pathologists that contains White Papers on contemporary topics involving clinical laboratory management, pathology administration, and the medical laboratory testing marketplace. This White Paper library is hosted at www.DarkDaily.com/white-papers and is a useful new information resource for the clinical laboratory profession.
The White Paper resource library is another example of how the Internet and Web 2.0 creates new educational opportunities for medical laboratory professionals and pathologists. The White Papers on clinical laboratory and pathology topics can be accessed 24/7 from anywhere in the world. Each White Paper can be downloaded immediately as a PDF.
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May 24, 2010 | Laboratory News, Laboratory Pathology
Laboratory Corporation of America will also acquire Diamond Reference Laboratory
Last week, financially-troubled Westcliff Medical Laboratories, Inc., of Santa Ana, California, filed a Chapter 11 bankruptcy action in federal court. The news was disclosed to Westcliff clients in a letter signed by Westcliff’s Chairman and CEO. Even as this news became public, Westcliff announced that its assets would be acquired by Laboratory Corporation of America (NYSE: LH), subject to approval by the bankruptcy court.
In a separate transaction, LabCorp is acquiring Diamond Reference Laboratory of Diamond Bar, California. Diamond Reference Laboratory has estimated annual revenue of $10 million. Westcliff Medical Laboratories reported annual revenue of $97 million for 2009. When these two clinical laboratory acquisitions close, LabCorp will have picked up a 5% increase in its share of California’s estimated $2 billion laboratory testing market.
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