Aug 3, 2012 | Laboratory Hiring & Human Resources, Laboratory News, Laboratory Operations, Laboratory Pathology, Laboratory Sales and Marketing, Management & Operations
Medical labs and pathology groups using Sunquest LIS products likely to see positive changes from Sunquest’s fourth change in ownership since 2001
In what is likely to be the biggest deal in clinical laboratory and pathology informatics for this year, Roper Industries, Inc. (NYSE: ROP), of Sarasota, Florida, will acquire Sunquest Information Systems, Inc., of Tucson, Arizona. The purchase price is an impressive $1.42 billion dollars and the deal was announced on Monday this week.
Roper Industries will get a lot for its money. Sunquest holds a significant share of the nation’s market for laboratory information systems (LIS). Sunquest has also built a substantial market share in anatomic pathology informatics, anchored by its CoPath and PowerPath products.
Sales Price of $1.42 Billion for Sunquest and Its Clinical Lab Software
What some may consider an eye-popping sales price of $1.42 billion for Sunquest demonstrates that investor interest in all aspects of the clinical laboratory testing marketplace remains strong. In its second quarter conference call, executives at Roper Industries told the financial analysts that, during 2013, they expect Sunquest to generate $140 million in EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortization). If true, that would indicate that the sales price is based upon approximately a 10-times multiple of Sunquest’s EBIDTA. (more…)
Jun 11, 2012 | Compliance, Legal, and Malpractice, Digital Pathology, Instruments & Equipment, Laboratory Hiring & Human Resources, Laboratory Pathology
Pathology profession’s leading experts in lab informatics predict plenty of disruption as hospitals work to integrate their informatics systems
DATELINE—PITTSBURGH, PENNSYLVANIA: Last Friday, what I will call the All-Stars of pathology informatics and clinical laboratory information systems (LIS) came together for a one-day Strategy Summit. Disruptive forces are loose within the laboratory informatics space and participants were eager to understand these trends and develop effective responses to keep medical laboratory testing at the forefront of clinical care.
Almost 100 pathologists, laboratory informatics vendors, LIS consultants, and hospital CIOs participated. Your Dark Daily editor was here as a careful listener. The Strategy Summit was organized by the Association for Pathology Informatics (API). API President Mark Tuthill, M.D., was chair of the program. Tuthill is also Division Head, Pathology Informatics, at Henry Ford Health System in Detroit, Michigan. (more…)
Apr 18, 2012 | Laboratory Management and Operations, Laboratory News, Laboratory Pathology, Management & Operations
Actions by major insurers indicate that ACOs operated by hospitals will have competition
Until recently, most media coverage about nascent accountable care organizations (ACOs) centered on the plans of major hospitals and health systems to organize ACOs within their communities. Now comes news that major health insurers are making sizeable investments as they prepare to launch their own ACOs.
These developments could be auspicious for local clinical laboratories and anatomic pathology groups. It could mean that in many regions around the United States there will be ACOs operated by hospitals/health systems that compete against ACOs operated by health insurance companies. In turn, that would mean more customers for lab testing services in these cities and towns.
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Mar 21, 2012 | Coding, Billing, and Collections, Digital Pathology, Instruments & Equipment, Laboratory Instruments & Laboratory Equipment, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology
Pathology groups and medical labs see lab hubs as a way to reduce to cost to interface with EMRs and HIEs
It’s no secret that clinical laboratories and pathology groups are being asked to interface their laboratory information systems (LIS) to the electronic medical record (EMR) systems of office-based physicians and other types of providers. Blame it on HITECH, Meaningful Use, and the substantial monetary incentives offered by the federal government.
Right now, tens of thousands of doctors across the United States are at some stage of purchasing and implementing an EMR system within their medical practice. “Each time a medical clinic adopts an EMR, you can bet that one of the first things the physicians do is to request that their clinical lab provider electronically transmit laboratory test results directly into their patients’ records within the EMR,” observed Charles Halfpenny.
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Mar 20, 2012 | Digital Pathology, Laboratory Instruments & Laboratory Equipment, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology
Optical character recognition is improving, making it easier for medical laboratories to scan paper documents and convert that data into digital information
Endless flows of paper are the curse of clinical laboratories and anatomic pathology groups everywhere. Few medical laboratory organizations in the United States have successfully transitioned to a fully paperless environment.
But there is good news for pathologists and clinical lab managers who feel overwhelmed by the daily flood of paper test requisitions and other documents that flow into their labs every day. Several active trends hold the potential to allow more medical laboratories to eliminate all paper and achieve a true digital working environment.
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