Could ‘Money Back’ Guarantees Become More Common for Medical Devices, Clinical Laboratory Tests, and Prescription Drugs as Manufacturers Strive to Prove Clinical Value?

Examples already exist of manufacturers agreeing to refund payments if their therapeutic drugs don’t benefit patients; Medical laboratories with proprietary tests may find this strategy effective at guaranteeing the clinical utility of their assays

If their medical devices, medical laboratory tests, or prescription drugs are not effective, will payers, patients, and doctors get refunds from the manufacturers of these products? Some experts predict that the increased emphasis on improved patient outcomes, and the need for healthcare enterprises to back up the clinical value of their services, could lead to money-back guarantees and reimbursements for treatment therapies.

Offering a refund for services if the patient does not benefit is a powerful and compelling way for a company to call attention to its confidence level in its products and services.     (more…)

Concierge Medicine Trend Continues and Creates New Clients for Clinical Pathology Laboratories

MDVIP and similar concierge medicine companies are attracting patients willing to pay for improved access to physicians

Concern about healthcare reforms and lower reimbursement are motivating ever more physicians to consider practicing concierge medicine. This is a practice model where the patient will pay the physician an annual retainer in return for greater access and more personal attention from the physician.

Pathologists and clinical laboratory managers may be surprised to learn that the number of doctors who have moved to the concierge medicine practice model rose fivefold in the last five years! That statistic was published in a New York Times article about the growth of the concierge medicine marketplace.