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Clinical Laboratory Testing Volume 2: Key Players for Laboratory Testing, Business Trends and Strategies

  • Publication Date:July 2012
  • Publisher:TriMark Publications
  • Product Type: Report
  • Pages:134
  • ISBN:46813

Clinical Laboratory Testing Volume 2: Key Players for Laboratory Testing, Business Trends and Strategies

Clinical laboratory testing is one of the most important sectors of medical care. Although it is generally involved in over 70% of medical diagnoses, it accounts for less than 5% of overall healthcare expenditures. The term clinical laboratory testing usually refers to determining the concentration or activity of a protein, carbohydrate, lipid, electrolyte, enzyme or small molecule in easily collected body fluids such as blood, serum, plasma, urine and saliva. This TriMark Publications report describes the specific segments of the clinical laboratory testing business and the strategies used by laboratory companies to develop new business opportunities. The study presents emerging business practices and analyzes the partnerships and alliances that various key sector players have forged or could forge in the near future. New clinical laboratory business methods are also examined to identify lead positions and potential future growth areas. Moreover, the report profiles leading companies in the clinical laboratory industry, with a primary focus on companies that actively analyze and market laboratory data.
TABLE OF CONTENTS

1. Overview 6
1.1 Objectives of the Report 6
1.2 Methodology 7
1.3 Scope of the Report 8
1.4 Executive Summary 9

2. IVD Clinical Laboratory Testing Market 15
2.1 Introduction 15
2.2 Independent Clinical Labs 16
2.2.1 Key Players for Independent Clinical Labs 16
2.3 Medical Expenditures 18
2.4 Medicare Clinical Lab Services Spending Trends 20

3. The Clinical Laboratory Testing Market 24
3.1 U.S. Market 24
3.1.1 Hospital-based Clinical Laboratories 27
3.1.2 Commercial Clinical Laboratory Testing 27
3.1.3 Physician Office Laboratories (POLs) 28
3.2 Clinical Lab Testing Key Players 31
3.2.1 Commercial Clinical Labs 31
3.2.2 Hospital Lab Collaborative Ventures 32
3.2.3 Specialty Labs 33
3.3 Revenue and Reimbursement 34
3.4 Outlook for Clinical Laboratory Testing 38
3.4.1 Long-term Changes 38
3.4.2 Market Drivers 40
3.4.3 Barriers to Successful Clinical Laboratory Operations 40
3.4.4 Key Technologies 44
3.4.5 Conclusion 44

4. Hot Sectors in the Clinical Lab Testing Market 46
4.1 Workplace Drugs-of-Abuse Testing 46
4.2 Clinical Toxicology 47
4.3 Clinical Testing for the Pharmaceutical Industry 47
4.4 Vitamin D Testing 47
4.5 Diabetes (Glucose) Testing 48
4.6 Molecular Diagnostic Testing 48
4.7 Cardiac Markers 50
4.8 Blood Bank Screening 51
4.9 Genetic Testing 51
4.10 Predictive Medicine Testing 51
4.11 Personalized Medicine 53
4.12 Cancer Testing 54
4.13 Point of Care Testing 55
4.14 Monitoring Testing 55
4.15 Anatomic Pathology 55
4.16 Immunodiagnostics 56
4.17 Opiate Testing 56

5. Important Clinical Lab Testing Technology Trends 57
5.1 Technology Platform Innovations in Clinical Lab Testing 57
5.2 The New Paradigm 57
5.3 Consolidated Workstations 57
5.4 Automation in the Laboratory 59
5.5 Laboratory Information Systems 59
5.6 New User-friendly Interface 60
5.7 Data-Management Issues 61
5.7.1 Wireless LANs 61
5.7.2 Data and Workflow Management Systems 62
5.7.3 Beckman Central Command 62
5.7.4 Clinical IT More Widely Available in Physician Practices 63
5.7.5 Physician Electronic Health Records (EHRs) 64
5.7.6 Specimen Tracking and Processing 64

6. Business Trends in the Clinical Laboratory Testing Sector 65
6.1 Key Developments 65
6.2 Sector Consolidation 65
6.3 Acquisition Pricing 65
6.4 Hospital Lab Competition Threats 67
6.5 Acquisition, License Agreements, Internal Development and Partnerships 68
6.6 Merger, Acquisition and Partnering Activities in the Clinical Lab Testing Industry 68
6.7 Comparison of Quest and LabCorp 71
6.7.1 Acquisitions 72
6.7.2 Quest's Growth 72
6.7.3 Laboratory Corporation of America 73
6.7.4 LabCorp's Growth 74
6.7.5 Competitive Advantages of National Labs like Quest and LabCorp 75
6.7.6 National Managed Care Companies 76
6.7.7 Billing and Collection Management 78
6.7.8 Lower Reagent and Supply Costs 79
6.7.9 Esoteric Testing Capabilities 79
6.7.10 Ability to Invest in Web-based Connectivity Solutions 79
6.7.11 Competitive Disadvantages of Quest and LabCorp 79
6.7.12 Difficulties with Turnaround Times and Stat Services 79
6.7.13 Physician-Laboratory Communication 79
6.7.14 Specimen Pickup Scheduling Inflexibility 80
6.8 Regulation of Clinical Laboratory Operations 81
6.8.1 CLIA and State Regulations 82
6.8.2 Drug Testing 82
6.8.3 Controlled Substances 82
6.8.4 Medical Waste, Hazardous Waste and Radioactive Materials 83
6.8.5 FDA 83
6.8.6 Occupational Safety 83
6.8.7 Specimen Transportation 83
6.8.8 Corporate Practice of Medicine 83
6.9 Hospital Outreach Programs 83
6.10 Supply Chain and GPO Contracting 84
6.11 Specialty Labs 84
6.12 Expansion of Hospital-based Labs and Hospital Outreach Programs 85
6.13 Managed Care 85

7. Company Profiles 86
7.1 ACM Medical Laboratory 86
7.2 Alere 86
7.3 American Esoteric Laboratories (Sonic Healthcare) 87
7.4 American Pathology Partners 87
7.5 AmeriPath (Quest) 87
7.6 ARUP Laboratories 87
7.7 Athena Diagnostics 88
7.8 Aurora Diagnostics 89
7.9 Bio-Reference Laboratories, Inc. 89
7.10 BioTech MedLab 90
7.11 Caris Diagnostics 90
7.12 CBLPath 90
7.13 Centrex Clinical Laboratories 90
7.14 Clarient, Inc. 90
7.15 Clinical Reference Laboratory 91
7.16 Clongen Laboratories, LLC 91
7.17 CompuNet Clinical Laboratories 92
7.18 EndoChoice Pathways 92
7.19 Enzo Biochem, Inc. 92
7.20 Esoterix (LabCorp) 92
7.21 Exagen Diagnostics 93
7.22 Geneva Laboratories 93
7.23 Genomic Health, Inc. 93
7.24 Genzyme 94
7.25 IBT Laboratories 94
7.26 Integrated Regional Laboratories (IRL) 94
7.27 LabCorp 94
7.28 MEDTOX Scientific, Inc. 96
7.29 Meriter Health Services 96
7.30 Mid America Clinical Laboratories (MACL) 97
7.31 Monogram Biosciences, Inc. 97
7.32 Myriad Genetics, Inc. 97
7.33 National Jewish Medical and Research Center 98
7.34 Parkway Clinical Laboratories 99
7.35 Pathology, Inc. 99
7.36 Predictive Biosciences 99
7.37 Psychemedics Corporation 100
7.38 Quest Diagnostics, Inc. 100
7.39 RDL Reference Laboratory 100
7.40 Satellite Laboratory Services 101
7.41 Signal Genetics 101
7.42 Solstas Lab Partners 101
7.43 Sonic Healthcare 102
7.44 Spectra 102

8. Clinical Laboratory Testing Sector Trends and Forecasts 104
8.1 Home Care Analysis 104
8.2 Non-Traditional Collection for Laboratory Testing 104
8.3 New Systems for Critical-Care and Near-Patient Testing 104
8.4 Shift to Preventative Medicine 104
8.5 Mergers of Diagnostic Companies 104
8.6 Information Management Advances 104
8.7 Test Ordering Patterns 104
8.8 Patient Satisfaction 104
8.9 Move Away from Central Laboratory 105
8.10 Healthcare Cost Controls 105
8.11 Competition for Services 106
8.12 Drivers and Barriers of Clinical Laboratory Testing 108
8.13 Confluence of New Technology 108
8.14 New Trends in Clinical Laboratory Testing 108
8.14.1 Trends in Reimbursement Practices 108
8.14.2 Managed Care 112
8.14.3 Point of Care Testing 112
8.14.4 Satellite Facilities 113
8.14.5 Billing Practices 113
8.15 Digital Pathology 114
8.16 Pathology Laboratory Trends 114

9. Key Clinical Lab Business Strategies 116
9.1 Strategy 1: Acquisitions 116
9.2 Strategy 2: Parallel Businesses Development 116
9.3 Strategy 3: Larger Labs 117
9.4 Strategy 4: Develop Specialty Areas of Testing 117
9.5 Strategy 5: Marketing 118
9.6 Strategy 6: Capitalize on a Unique Position within the Clinical Testing Market 118
9.7 Strategy 7: Lead in Providing Medical Information 118
9.8 Strategy 8: Scientific Differentiation 119
9.9 Strategy 9: Drive Quality 120
9.10 Strategy 10: Deliver a Superior Patient Experience 121

Appendix 1: Reference Laboratory Directory 122
Appendix 2: Current List of Laboratories which Meet Minimum Standards to Engage in Urine Drug Testing for Federal Agencies 128
Appendix 3: FDA/CLIA—Currently Waived Analytes 132


INDEX OF FIGURES

Figure 2.1: Medicare Part B Expenditures, 2005-2016 20
Figure 2.2: Part B Spending on Clinical Laboratory Services, 1991-2007 21
Figure 3.1: Lab Revenue by Lab Type 25
Figure 3.2: Lab Revenue by Test Type 25
Figure 3.3: Number of New Tests Granted CLIA-waived Status, 2000-2008 29
Figure 3.4: High-Volume Waived Tests 30
Figure 5.1: Percentage of Physicians in Practices with IT for Specific Clinical Activities, 2000-2005 63
Figure 6.1: Quest Revenue Breakdown 72
Figure 6.2: Revenue for Quest Diagnostics, 2000-2011 80
Figure 6.3: Revenue for LabCorp, 2000-2011 81
Figure 8.1: Reimbursement Distribution for Clinical Lab Service Payers 111


INDEX OF TABLES

Table 2.1: Independent Clinical Laboratories by Market Capitalization 17
Table 2.2: Top Clinical Laboratory Testing Analytes, 2011 18
Table 2.3: Drivers for Overall Medicare Spending 18
Table 2.4: Medicare Part B Expenditures, 1970-2011 19
Table 2.5: Future Projections of Medicare Part B Expenditures 2012-2080 19
Table 2.6: Medicare Spending for Clinical Lab Services, 2000-2009 21
Table 2.7: Drivers for Medicare Clinical Laboratory Spending 22
Table 3.1: U.S. Clinical Laboratory Testing Sector Revenue, 2005-2016 24
Table 3.2: U.S. Clinical Laboratory Testing Sector Segments, 2011 24
Table 3.3: Esoteric Tests Performed in the Clinical Laboratory 26
Table 3.4: Growth Rates of Test Types 26
Table 3.5: Drivers of Clinical Lab Testing Volume 26
Table 3.6: Independent Commercial Laboratory Testing Test Volume, 2005-2016 28
Table 3.7: Lab Tests Performed in Physicians Offices 31
Table 3.8: Revenue at Leading Commercial Lab Companies, 2011 32
Table 3.9: Payer Group Percentage of Total Volume of Requisitions and Net Revenues 35
Table 3.10: Barriers to Successful Clinical Lab Operations 41
Table 5.1: Applications for Wireless LAN Technology 61
Table 6.1: Clinical Laboratory M&A Activity, 2010-2012 66
Table 6.2: Major Managed Care Players for Clinical Laboratory Services 77
Table 6.3: Drivers for Managed Care Spending for Clinical Laboratory Services 78
Table 6.4: Revenue for Quest Diagnostics, 2000-2011 80
Table 6.5: Revenue for LabCorp, 2000-2011 81
Table 6.6: Clinical Lab Quality Assurance Programs 82
Table 7.1: Myriad Genetics' Laboratory Testing Menu 98
Table 8.1: Key Elements of Clinical Lab Service 107
Table 8.2: Key Competitive Activities for Clinical Lab Service 107
Table 8.3: Challenges to the Clinical Lab Testing Industry 107
Table 8.4: Medicare Billing Guidelines for Multi-channel Clinical Laboratory Tests 109
Table 8.5: Factors for Estimating Collectibility for Clinical Lab Services 111
Table 8.6: Classes of Lab Service Payers 111
Table 8.7: U.S. Revenue Forecasts for POCT Market, 2008-2018 112
Table 8.8: Billing Difficulties Required of Clinical Labs to Bill Third-Party Payers 113
Table 8.9: Drivers for Operation of In-Office Pathology Labs 115
Table 8.10: Barriers for Operation of In-Office Pathology Labs 115

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