Clinical Laboratory Companies, Hospitals, and Other Providers Preparing to Comply with FASB’s ‘ASC 606–Revenue Recognition Standard’

All medical laboratory companies and hospitals following GAAP must comply as early as 2018 and 2019; revenue and profit impact can be either beneficial or negative There is a big change coming to clinical laboratory companies, hospitals, and other providers that report their organization’s financial performance under Generally Accepted Accounting Principles (GAAP). Such organizations will need to assess their contracts in a different way to comply with the upcoming implementation of the...

Entering the Clinical Laboratory Testing Business: Is it Better to Buy or to Build?

For two decades, popular wisdom says “buy,’ but several entrepreneurs succeeded by building a brand new clinical lab company Over the past 15 years, there have been few examples of pathologists and medical laboratory executives willing to start up a new clinical laboratory company from scratch. The popular wisdom says that this is a next-to-impossible task. The same popular wisdom says that buying an existing clinical laboratory company is the best way for entrepreneurs and new investors to...
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