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By subscribing to Laboratory Industry Report, each month you'll get an insider's view of the lab industry's most important business and financial trends, plus predictions for the coming year.
In each issue, you find:
- Comparative data on lab pricing
- Information and explanations describing how to deal with healthcare integration, capitation, technology advances, etc.
- Clear perspectives of how your firm is performing vs. the market at large How publicly-traded lab companies are performing and what their top executives earn
- Updates on late-breaking mergers & acquisitions.
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With Laboratory Industry Report, you'll get all the business news & insights which are accurate, objective, reliable, and authoritative. Gain a competitive edge for your company or institution today by subscribing today!
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 | LIR April 2008 (full PDF issue) |
| TOP OF THE NEWS
Quest’s role in Google Health
Bostwick’s IPO faces financial challenges
LAB DATA ANALYSIS
CMS’s top 10 lab, pathology tests
INSIDE THE LAB INDUSTRY
Psychemedics tops productivity measures
NY market shift helps Bio-Reference
LAB ECONOMICS
Economic downturn could challenge lab AR and bad debt
THE MARKET ABROAD
Sonic projects 20% to 25% growth in '08
THE NICHE MARKET
Ikonisys gets CLIA registration
FINANCIAL
Lab index down 12%
INDUSTRY BUZZ
Stanford’s basic outreach unit for sale
Full Article |
| Debt Load and Economy's Financial Crisis Put Pressure on Bostwick Labs' $100M IPO |
| In early March, Bostwick Laboratories moved forward with plans for an initial public offering (IPO), indicating in forms filed with the Securities and Exchange Commission (SEC) that the offering price could be as high as $100 million. The Glen Allen, Virginia-based anatomic pathology (AP) lab indicates it’s looking to expand its presence in both the urology and AP market through hiring more pathologists and sales staff, expanding existing laboratories and building new facilities, as well as acquiring laboratories and upgrading the company’s IT infrastructure.
Full Article |
| Quest Partners With Google to Develop Portable PHR |
| The nation’s lab testing leader has joined forces with the country’s Internet search giant to provide consumers with secure online access to diagnostic test results through Google Health, a Web-based personal health record (PHR) pilot currently in development. Google Health appears similar to two other online PHR initiatives being developed by IT leaders: Microsoft’s HealthVault and Revolution Health. Founded by America Online co-founder Steve Case, Revolution Health operates a consumer health information Web site that allows consumers to create and manage an online PHR.
Full Article |
| Top 10 Lab and Pathology Tests—Surgical Path Leads With $20 Billion in Medicare Dollars |
| The most recent data from the Centers for Medicare & Medicaid Services (CMS) reveals that surgical pathology continues to be the highest volume Part B pathology procedure, with approximately 20 million procedures and $1.1 billion in Medicare payments in 2006—well over three times more than any other single procedure in CMS’s top 100 lab and pathology procedures, according to Washington G-2 Reports’ 2008 Medicare Reimbursement Manual for Laboratory & Pathology Services.
Full Article |
| Lab Financial Benchmarks Reveal Psychemedics Tops Productivity Measures |
| Analysis of the latest annual data from nine commercial labs reveals Psychemedics had the highest revenue per full-time employee (FTE) with $253,196, up 5 percent from 2006’s value of $241,237. Based in Acton, Massachusetts, Psychemedics has 97 FTEs, and performs drug-of-abuse testing through corporate and school programs.
Full Article |
| NY Market Shift Helps Boost Bio-Reference, but DSO Benchmarks Cause Concern |
| In the 18 months since LabCorp signed an exclusive contract with UnitedHealthcare and began expanding its presence in the lucrative New York metro market, Bio-Reference Laboratories (Elmwood Park, NJ) has seen its share of the physician office testing market inch up from around 13 percent to approximately 18 percent.
Full Article |
| Receivables, Bad Debt Could Rise as Economic Downturn Challenges Labs |
| Many U.S. companies continue cutting back health care spending, forcing labs to confront an increased number of patient collections if consumers need to pay for lab testing out-of-pocket. This could lead to an increase in average days in accounts receivable (AR), as well as bad-debt expense for some labs.
Full Article |
| Sonic Projects 20% to 25% Growth in ’08 as Federated Model and Acquisitions Pose Challenge |
| Australia’s Sonic Healthcare (Sydney) is again projecting double-digit growth in the range of 20 percent to 25 percent this year for its fiscal year 2008, following the company’s release of 2007 results, which totaled AU$1.89 billion (US$1.73 billion) in total revenues. This represents a gain of almost 14 percent over 2006 revenues, which totaled AU$1.66 billion (US$1.52 billion).
Full Article |
| Ikonisys Gets CLIA Registration for Niche Reference Lab |
| The cell-based diagnostics company Ikonisys jumpstarted this year by receiving CLIA registration for its new clinical laboratory, located in New Haven, Connecticut. Founder and CEO Petros Tsipouras, M.D., said the company wanted to operate a CLIA lab as a way of evaluating its own diagnostic tests run on its proprietary Ikoniscope fastFISH imaging system, which was cleared by the FDA in 2006.
Full Article |
| Lab Stocks Take a Hit in March; Index Down 12% Over 5 Weeks |
| Just like the rest of Wall Street, the lab industry continues to struggle this year, with the G-2 Laboratory Stock Index down 12 percent over the last five weeks for the week ended March 20, 2008, and down 14 percent for 2008. The Nasdaq and the S&P 500 continue to be down this year. Nasdaq is down 15.57 percent and the S&P 500 is down 10.08 percent so far in 2008.
Full Article |
| Stanford’s Basic Outreach Testing Unit for Sale |
| Lack of financial viability has prompted Stanford Hospitals & Clinics (Stanford, CA) to sell the unit of its outreach laboratory that performs routine tests, such as blood chemistry, complete blood count, and urinalysis procedures. The laboratory is not selling the surgical pathology and esoteric testing operations, according to communications director Gary Migdol, who declined to comment on the current sale price.
Full Article |
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