News, Analysis, Trends, Management Innovations for
Clinical Laboratories and Pathology Groups

Hosted by Robert Michel

News, Analysis, Trends, Management Innovations for
Clinical Laboratories and Pathology Groups

Hosted by Robert Michel
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Delaware HIE Teaming Up with iSpecimen to Turn Remnant Clinical Pathology Laboratory Specimens into Cash

‘Explosive growth’ of biomarker discovery and development fuels demand for biospecimens, thus creating a new revenue source for clinical laboratories and pathology groups

Are health information networks alive and well in the United States? This sector of healthcare has been quiet in recent years. However, there is one statewide health information exchange (HIE) that is doing innovative things with clinical laboratory specimens.

The Delaware Health Information Network (DHIN) has entered into a novel collaboration that may help address the medical research community’s growing need for clinical specimens. At the same time, this agreement will also provide a much-needed new revenue stream for participating medical laboratories and hospitals.

With Medicare and health insurers reducing reimbursements for laboratory tests, medical laboratories and pathology groups are facing uncertain financial times. However, DHIN’s new partnership with iSpecimen of Massachusetts highlights the potential value of remnant clinical specimens—samples that otherwise would be discarded once patient testing is complete.

“The value of digitizing medical data extends beyond the obvious value of supporting direct patient care,” DHIN Chief Executive Officer Jan Lee, MD, said in a news release. “With informed patient consent, digital data can also help match clinical specimens with very specific research criteria. DHIN is proud to play a role in supporting such efforts to find new breakthrough treatments and cures.” (more…)

Fast Growth in Real and “Virtual” Biobanks May be Revenue Opportunity for Clinical Pathology Laboratories

Biobanking is now a $7.9 billion industry and demand for specimens is skyrocketing

Biobanking is going big time! VisionGain estimates that biobanking is now a $7.9 billion industry. That’s a revenue number that should interest pathologists and clinical laboratory managers, since their organizations access large volumes of patient specimens every year.

As one source of human specimens, both clinical laboratories and anatomic pathology groups have an opportunity to participate in biobanking activities. At this stage in the market, however, few medical laboratories formally participate in biobanking activities. Experts believe that is likely to change.

The world’s largest biomedical database now contains tissue specimens gathered from more than 500,000 middle-aged Britons. It is the U.K. Biobank, which recently made its resources available to researchers. This biobank is backed by the U.K.’s Medical Research Council and the Wellcome Trust charity. Each tissue sample also has more than 1,000 pieces of health-related and genetic data associated with it.