Laboratory Industry Report
Get an insider's view of the lab industry's most important business and financial trends, plus predictions for 2008 and beyond. In each issue, you find: Comparative data on lab pricing 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.
September 2010 - Table of Contents
The gap widened even more in Washington G-2 Reports’ second-quarter benchmarking analysis, with San Diego-based Genoptix and Salt Lake City-based Myriad Genetics continuing to lead in two key benchmarking measures—revenue per full-time employee (FTE) and pretax income per FTE (see chart, on pg. 2).
The overall clinical laboratory is expected to grow about 8 percent in 2010, with growth driven by esoteric testing and anatomic pathology, according to Washington G-2 Reports’ Laboratory Industry Analysis 2010.
When Greeley Pathologists and Colorado Pathology Associates merged in 2007, the two groups had a number of hurdles to overcome. Although each served hospitals that were part of the same health system and shared a laboratory information system (LIS) owned by the health system, the groups actually had an adversarial relationship, explained Michael Walts, M.D., who discussed the merger during Washington G-2 Reports’ Laboratory Outreach Conference, held June 2-4, 2010, in Baltimore.
The U.S. clinical laboratory services market continues to grow at a steady rate, despite the poor economy in late 2008 and 2009. Data compiled by Washington G-2 Reports indicate that the lab market grew about 9.3 percent in 2009 to about $60.2 billion. The overall clinical laboratory market will grow approximately 8 percent in 2010 to reach $65 billion, with esoteric testing and anatomic pathology expected to be the fastest-growing segments, according to the Washington G-2 Reports’ Laboratory Industry Analysis 2010.
Medicare Part B spending on clinical laboratory services continues to increase, with 2009 spending totaling $8.049 billion, an increase of 11 percent over the 2008 total, according to the latest data from the Centers for Medicare and Medicaid Services (CMS) 2010 Medicare Trustees Report.
San Diego-based molecular diagnostics company Sequenom plans to open a genetic testing laboratory in La Jolla, Calif., later this year, just in time to start processing samples from a new clinical trial of the company’s experimental test for Down syndrome in unborn babies.
Spokane-based Pathology Associates Medical Laboratories (PAML) and Providence Health & Services, based in California, have entered into an agreement to create a new clinical laboratory services company serving the San Fernando and neighboring communities.
Health insurer Aetna has filed a lawsuit against Laboratory Corporation of America alleging unfair competition, misrepresentation, interference, breach of contract, and violation of trade secret laws. LabCorp announced the lawsuit Aug. 26 in a Form 8K filing with the Securities and Exchange Commission.
The vacancy rate for radiographers has continued to decline in recent years and is now at 2.1 percent, according to a staffing survey recently conducted by the American Society of Radiologic Technologists (ASRT).
The G-2 Reports’ Laboratory Stock Index gave up some of July’s gains in August, dropping 3 percent in the four weeks ended Aug. 27, 2010. For the year, the index is down 7 percent.
Swiss pharmaceutical giant Roche Holding AG is making its move into digital pathology with the purchase of BioImagene Inc., a privately held company based in Sunnyvale, Calif. Roche announced recently that it had signed an agreement under which Ventana Medical Systems, a member of the Roche Group, would pay $100 million for the company, which creates high-resolution, whole-slide digital images from glass microscope slides.
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