Acquiring Pathology Laboratory Billing Expertise, McKesson Buys MED3000, Parent of PSAPath

Positioning itself to serve accountable care organizations, McKesson agrees to buy a company specializing in medical billing and physician practice management

McKesson Corporation (NYSE:MCK) announced an agreement to acquire MED3000 of Pittsburgh, Pennsylvania, earlier this week. One aspect of this transaction will be of particular interest to anatomic pathologists and pathology practice administrators.

When it closes the sale, McKesson’s ownership of MED3000 will increase its overall national market share of pathology billing and collection contracts. Dark Daily readers may recall that McKesson and MED3000 each have a sizeable number of anatomic pathology laboratories and groups as clients for their billing and collections business divisions. (more…)

Clinical Pathology Laboratories Using Back-Office Technologies to Improve Productivity and Increase Cash Collections

Strategy is to use automation and new informatics solutions to improve productivity of medical lab’s billing and collection departments

Relentless pressure to cut costs is pushing the nation’s clinical laboratories to finally look at back-office functions as a source of important cost reductions. That is a new trend in the medical laboratory testing industry.

“No one should be surprised by this development,” stated Lâle White, CEO of XIFIN, Inc., of San Diego, California. “When it came to cutting costs, for the better part of two decades, most clinical laboratories put priority emphasis on the pre-analytical and analytical stages of their lab operations. This was a good strategy and has produced substantial gains in quality and productivity, even as labs were able to better manage costs. (more…)