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Check for Discount on Clinical Laboratory Testing Volume 2: Key Players for Laboratory Testing, Business Trends and Strategies report by TriMark Publications, LLC.


Check for Discount on Clinical Laboratory Testing Volume 2: Key Players for Laboratory Testing, Business Trends and Strategies report by TriMark Publications, LLC.

Check for Discount on Clinical Laboratory Testing Volume 2: Key Players for Laboratory Testing, Business Trends and Strategies report by TriMark Publications, LLC.

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  • 1. Clinical Laboratory Testing Volume 2: Key Players for LaboratoryTesting, Business Trends and StrategiesClinical laboratory testing is one of the most important sectors of medical care. Although it is generallyinvolved in over 70% of medical diagnoses, it accounts for less than 5% of overall healthcareexpenditures. The term clinical laboratory testing usually refers to determining the concentration oractivity of a protein, carbohydrate, lipid, electrolyte, enzyme or small molecule in easily collected bodyfluids such as blood, serum, plasma, urine and saliva. This TriMark Publications report describes thespecific segments of the clinical laboratory testing business and the strategies used by laboratorycompanies to develop new business opportunities. The study presents emerging business practices andanalyzes the partnerships and alliances that various key sector players have forged or could forge in thenear future. New clinical laboratory business methods are also examined to identify lead positions andpotential future growth areas. Moreover, the report profiles leading companies in the clinical laboratoryindustry, with a primary focus on companies that actively analyze and market laboratory data.Get more information @ DetailsPublished: July 2012No. of Pages: 134Price: Single User License: US$3400 Price: Corporate User License: US$6800Table of Contents1. Overview 61.1 Objectives of the Report 61.2 Methodology 71.3 Scope of the Report 81.4 Executive Summary 92. IVD Clinical Laboratory Testing Market 152.1 Introduction 152.2 Independent Clinical Labs 162.2.1 Key Players for Independent Clinical Labs 162.3 Medical Expenditures 182.4 Medicare Clinical Lab Services Spending Trends 20
  • 2. 3. The Clinical Laboratory Testing Market 243.1 U.S. Market 243.1.1 Hospital-based Clinical Laboratories 273.1.2 Commercial Clinical Laboratory Testing 273.1.3 Physician Office Laboratories (POLs) 283.2 Clinical Lab Testing Key Players 313.2.1 Commercial Clinical Labs 313.2.2 Hospital Lab Collaborative Ventures 323.2.3 Specialty Labs 333.3 Revenue and Reimbursement 343.4 Outlook for Clinical Laboratory Testing 383.4.1 Long-term Changes 383.4.2 Market Drivers 403.4.3 Barriers to Successful Clinical Laboratory Operations 403.4.4 Key Technologies 443.4.5 Conclusion 444. Hot Sectors in the Clinical Lab Testing Market 464.1 Workplace Drugs-of-Abuse Testing 464.2 Clinical Toxicology 474.3 Clinical Testing for the Pharmaceutical Industry 474.4 Vitamin D Testing 474.5 Diabetes (Glucose) Testing 484.6 Molecular Diagnostic Testing 484.7 Cardiac Markers 504.8 Blood Bank Screening 514.9 Genetic Testing 514.10 Predictive Medicine Testing 514.11 Personalized Medicine 534.12 Cancer Testing 544.13 Point of Care Testing 554.14 Monitoring Testing 554.15 Anatomic Pathology 554.16 Immunodiagnostics 564.17 Opiate Testing 565. Important Clinical Lab Testing Technology Trends 575.1 Technology Platform Innovations in Clinical Lab Testing 575.2 The New Paradigm 575.3 Consolidated Workstations 575.4 Automation in the Laboratory 595.5 Laboratory Information Systems 595.6 New User-friendly Interface 605.7 Data-Management Issues 615.7.1 Wireless LANs 615.7.2 Data and Workflow Management Systems 62
  • 3. 5.7.3 Beckman Central Command 625.7.4 Clinical IT More Widely Available in Physician Practices 635.7.5 Physician Electronic Health Records (EHRs) 645.7.6 Specimen Tracking and Processing 646. Business Trends in the Clinical Laboratory Testing Sector 656.1 Key Developments 656.2 Sector Consolidation 656.3 Acquisition Pricing 656.4 Hospital Lab Competition Threats 676.5 Acquisition, License Agreements, Internal Development and Partnerships 686.6 Merger, Acquisition and Partnering Activities in the Clinical Lab Testing Industry 686.7 Comparison of Quest and LabCorp 716.7.1 Acquisitions 726.7.2 Quest’ s Growth 726.7.3 Laboratory Corporation of America 736.7.4 LabCorp’ s Growth 746.7.5 Competitive Advantages of National Labs like Quest and LabCorp 756.7.6 National Managed Care Companies 766.7.7 Billing and Collection Management 786.7.8 Lower Reagent and Supply Costs 796.7.9 Esoteric Testing Capabilities 796.7.10 Ability to Invest in Web-based Connectivity Solutions 796.7.11 Competitive Disadvantages of Quest and LabCorp 796.7.12 Difficulties with Turnaround Times and Stat Services 796.7.13 Physician-Laboratory Communication 796.7.14 Specimen Pickup Scheduling Inflexibility 806.8 Regulation of Clinical Laboratory Operations 816.8.1 CLIA and State Regulations 826.8.2 Drug Testing 826.8.3 Controlled Substances 826.8.4 Medical Waste, Hazardous Waste and Radioactive Materials 836.8.5 FDA 836.8.6 Occupational Safety 836.8.7 Specimen Transportation 836.8.8 Corporate Practice of Medicine 836.9 Hospital Outreach Programs 836.10 Supply Chain and GPO Contracting 846.11 Specialty Labs 846.12 Expansion of Hospital-based Labs and Hospital Outreach Programs 856.13 Managed Care 857. Company Profiles 867.1 ACM Medical Laboratory 867.2 Alere 867.3 American Esoteric Laboratories (Sonic Healthcare) 87
  • 4. 7.4 American Pathology Partners 877.5 AmeriPath (Quest) 877.6 ARUP Laboratories 877.7 Athena Diagnostics 887.8 Aurora Diagnostics 897.9 Bio-Reference Laboratories, Inc. 897.10 BioTech MedLab 907.11 Caris Diagnostics 907.12 CBLPath 907.13 Centrex Clinical Laboratories 907.14 Clarient, Inc. 907.15 Clinical Reference Laboratory 917.16 Clongen Laboratories, LLC 917.17 CompuNet Clinical Laboratories 927.18 EndoChoice Pathways 927.19 Enzo Biochem, Inc. 927.20 Esoterix (LabCorp) 927.21 Exagen Diagnostics 937.22 Geneva Laboratories 937.23 Genomic Health, Inc. 937.24 Genzyme 947.25 IBT Laboratories 947.26 Integrated Regional Laboratories (IRL) 947.27 LabCorp 947.28 MEDTOX Scientific, Inc. 967.29 Meriter Health Services 967.30 Mid America Clinical Laboratories (MACL) 977.31 Monogram Biosciences, Inc. 977.32 Myriad Genetics, Inc. 977.33 National Jewish Medical and Research Center 987.34 Parkway Clinical Laboratories 997.35 Pathology, Inc. 997.36 Predictive Biosciences 997.37 Psychemedics Corporation 1007.38 Quest Diagnostics, Inc. 1007.39 RDL Reference Laboratory 1007.40 Satellite Laboratory Services 1017.41 Signal Genetics 1017.42 Solstas Lab Partners 1017.43 Sonic Healthcare 1027.44 Spectra 1028. Clinical Laboratory Testing Sector Trends and Forecasts 1048.1 Home Care Analysis 1048.2 Non-Traditional Collection for Laboratory Testing 1048.3 New Systems for Critical-Care and Near-Patient Testing 104
  • 5. 8.4 Shift to Preventative Medicine 1048.5 Mergers of Diagnostic Companies 1048.6 Information Management Advances 1048.7 Test Ordering Patterns 1048.8 Patient Satisfaction 1048.9 Move Away from Central Laboratory 1058.10 Healthcare Cost Controls 1058.11 Competition for Services 1068.12 Drivers and Barriers of Clinical Laboratory Testing 1088.13 Confluence of New Technology 1088.14 New Trends in Clinical Laboratory Testing 1088.14.1 Trends in Reimbursement Practices 1088.14.2 Managed Care 1128.14.3 Point of Care Testing 1128.14.4 Satellite Facilities 1138.14.5 Billing Practices 1138.15 Digital Pathology 1148.16 Pathology Laboratory Trends 1149. Key Clinical Lab Business Strategies 1169.1 Strategy 1: Acquisitions 1169.2 Strategy 2: Parallel Businesses Development 1169.3 Strategy 3: Larger Labs 1179.4 Strategy 4: Develop Specialty Areas of Testing 1179.5 Strategy 5: Marketing 1189.6 Strategy 6: Capitalize on a Unique Position within the Clinical Testing Market 1189.7 Strategy 7: Lead in Providing Medical Information 1189.8 Strategy 8: Scientific Differentiation 1199.9 Strategy 9: Drive Quality 1209.10 Strategy 10: Deliver a Superior Patient Experience 121Appendix 1: Reference Laboratory Directory 122Appendix 2: Current List of Laboratories which Meet Minimum Standards to Engage in UrineDrug Testing for Federal Agencies 128Appendix 3: FDA/CLIA— Currently Waived Analytes 132INDEX OF FIGURESFigure 2.1: Medicare Part B Expenditures, 2005-2016 20Figure 2.2: Part B Spending on Clinical Laboratory Services, 1991-2007 21Figure 3.1: Lab Revenue by Lab Type 25Figure 3.2: Lab Revenue by Test Type 25Figure 3.3: Number of New Tests Granted CLIA-waived Status, 2000-2008 29Figure 3.4: High-Volume Waived Tests 30Figure 5.1: Percentage of Physicians in Practices with IT for Specific Clinical Activities, 2000-2005 63
  • 6. Figure 6.1: Quest Revenue Breakdown 72Figure 6.2: Revenue for Quest Diagnostics, 2000-2011 80Figure 6.3: Revenue for LabCorp, 2000-2011 81Figure 8.1: Reimbursement Distribution for Clinical Lab Service Payers 111INDEX OF TABLESTable 2.1: Independent Clinical Laboratories by Market Capitalization 17Table 2.2: Top Clinical Laboratory Testing Analytes, 2011 18Table 2.3: Drivers for Overall Medicare Spending 18Table 2.4: Medicare Part B Expenditures, 1970-2011 19Table 2.5: Future Projections of Medicare Part B Expenditures 2012-2080 19Table 2.6: Medicare Spending for Clinical Lab Services, 2000-2009 21Table 2.7: Drivers for Medicare Clinical Laboratory Spending 22Table 3.1: U.S. Clinical Laboratory Testing Sector Revenue, 2005-2016 24Table 3.2: U.S. Clinical Laboratory Testing Sector Segments, 2011 24Table 3.3: Esoteric Tests Performed in the Clinical Laboratory 26Table 3.4: Growth Rates of Test Types 26Table 3.5: Drivers of Clinical Lab Testing Volume 26Table 3.6: Independent Commercial Laboratory Testing Test Volume, 2005-2016 28Table 3.7: Lab Tests Performed in Physicians Offices 31Table 3.8: Revenue at Leading Commercial Lab Companies, 2011 32Table 3.9: Payer Group Percentage of Total Volume of Requisitions and Net Revenues 35Table 3.10: Barriers to Successful Clinical Lab Operations 41Table 5.1: Applications for Wireless LAN Technology 61Table 6.1: Clinical Laboratory M&A Activity, 2010-2012 66Table 6.2: Major Managed Care Players for Clinical Laboratory Services 77Table 6.3: Drivers for Managed Care Spending for Clinical Laboratory Services 78Table 6.4: Revenue for Quest Diagnostics, 2000-2011 80Table 6.5: Revenue for LabCorp, 2000-2011 81Table 6.6: Clinical Lab Quality Assurance Programs 82Table 7.1: Myriad Genetics’ Laboratory Testing Menu 98Table 8.1: Key Elements of Clinical Lab Service 107Table 8.2: Key Competitive Activities for Clinical Lab Service 107Table 8.3: Challenges to the Clinical Lab Testing Industry 107Table 8.4: Medicare Billing Guidelines for Multi-channel Clinical Laboratory Tests 109Table 8.5: Factors for Estimating Collectibility for Clinical Lab Services 111Table 8.6: Classes of Lab Service Payers 111Table 8.7: U.S. Revenue Forecasts for POCT Market, 2008-2018 112Table 8.8: Billing Difficulties Required of Clinical Labs to Bill Third-Party Payers 113Table 8.9: Drivers for Operation of In-Office Pathology Labs 115Table 8.10: Barriers for Operation of In-Office Pathology Labs 115For more details Contact: