Clinical Laboratory Testing Volume 2: Business Strategies
Clinical laboratory testing is generally categorized as either of two general areas-clinical testing and anatomical pathology testing. Clinical and anatomical pathology procedures are frequently ordered as part of regular physician office visits and hospital admissions in connection with the diagnosis and treatment of illnesses. As such, clinical laboratory analysis is one of the most important sections of medical care.
The purpose of this TriMark Publications report is to describe the specific segments of the clinical laboratory analysis business. The emphasis in this review is on those companies that are actively developing and marketing laboratory data for the clinical setting, including hospitals, independent labs, physician's offices and miscellaneous clinics. This study concentrates on the clinical laboratory industry in the U.S. It defines the dollar volume of sales in each major market and analyzes the factors that influence the size and the growth of the individual market segments. The study surveys some of the primary companies known to be marketing clinical laboratory data into the market. Each company is discussed in depth with a section on the history of the company, the product line, business and marketing analysis, and a subjective commentary of the position of the company in its market.
The report attempts to answer the questions:
- What companies are the key players?
- What are the opportunities in clinical laboratory testing?
- What is happening with the information revolution?
- What are the development trends?
- Where are the new market growth areas?
This examination reviews the market for clinical laboratory data used in clinical practice. It defines the dollar volume of sales in each major market and analyzes the factors that influence the size and the growth of the individual market segments. The report details market sizes and growth rates for the U.S. and world markets. The study surveys some of the primary companies known to be marketing clinical laboratory data into the market. Each company is discussed in depth with a section on the history of the company, the product line, business and marketing analysis, and a subjective commentary of the position of the company in its market.
Unique benefits of this report are:
- In-depth analysis of the major sectors of the clinical laboratory business sector, their size, growth rates and major drivers.
- Presentation of some of the emerging business practices, elucidating the potential areas that could gain traction in this market.
- Analysis of the partnerships and alliances the various key sector players have forged, as well as describing financings of these market participants, giving insight into potential market collaborations.
- Examination of new business methods for clinical laboratories to identify lead positions and potential future growth areas.
The reader will gain an understanding of key areas of the clinical laboratory testing business.
- New ways to adapt technology innovations and create new revenue streams.
- Sales and marketing strategies that will improve net income.
- Which diagnostic tests are emerging as high profit products.
- Transition to a consumer-based lab model.
- Financial underpinnings of entrepreneurial labs.
- Networking opportunities.
- Insights into the boomer emerging market and their growing expenditures on healthcare.
- Increased merger and acquisition (M&A) activity.
- Shift to preventative medicine.
- Point of care testing.
- Elements of personalized medicine, genetic testing and pharmacogenomics.
Table of Contents
- 1. Overview5
- 1.1Objectives of the Report5
- 1.2Methodology6
- 1.3Scope of the Report7
- 1.4Executive Summary8
- 2.IVD Clinical Laboratory Market11
- 2.1Introduction11
- 2.2Key Players for Independent Clinical Labs12
- 2.3Reimbursement Pressure12
- 2.4Medicare Part B Spending Trends14
- 2.5Cost of Billing and Average Receipts for Commercial Labs17
- 2.6Hospital Outreach Programs18
- 2.7Criteria for Selection of Lab Services22
- 3.The Clinical Laboratory Testing Market23
- 3.1U.S. Market23
- 3.1.1Hospital-based Clinical Laboratories25
- 3.1.2Commercial Clinical Laboratory Testing25
- 3.1.3Physician Office Laboratories (POLs)26
- 3.2Clinical Lab Testing Key Players31
- 3.2.1Commercial Clinical Labs31
- 3.2.2Hospital Lab Collaborative Ventures32
- 3.2.3Specialty Labs33
- 3.3Revenue and Reimbursement34
- 3.4Outlook for Clinical Laboratory Testing37
- 3.4.1Long-Term Changes37
- 3.4.2Market Drivers38
- 3.4.3The Limits to Growth39
- 3.4.4Key Technologies39
- 3.4.5Conclusion40
- 3.1U.S. Market23
- 4.Hot Sectors in the Clinical Lab Testing Market41
- 4.1Workplace Drugs-of-Abuse Testing41
- 4.2Clinical Toxicology41
- 4.3 Clinical Testing for the Pharmaceutical Industry42
- 4.4Heavy Metal, Trace Element, and Solvent Analyses42
- 4.5Diabetes (Glucose) Testing42
- 4.6Molecular Diagnostic Testing42
- 4.7Cardiac Markers42
- 4.8Blood Bank Screening43
- 4.9Genetic Testing43
- 4.10Predictive Medicine Testing43
- 4.11Personalized Medicine45
- 4.12Cancer Testing45
- 4.13Cell Based Cancer Testing46
- 4.14Monitoring Technologies48
- 4.15Anatomic Pathology48
- 5.Important Technology Trends50
- 5.1Technology Platform Innovations in Point-of-Care Testing50
- 5.2The New Paradigm50
- 5.3Consolidated Workstations50
- 5.4Automation in the Laboratory52
- 5.5Laboratory Information Systems53
- 5.6New User-friendly Interface54
- 5.7Data-Management Issues55
- 5.7.1Wireless LANs55
- 5.7.2Data and Workflow Management Systems55
- 5.7.3Beckman Central Command56
- 5.7.4 Clinical IT More Widely Available in Physician Practices56
- 5.7.5 Physician Electronic Health Records (EHRs)57
- 6.Business Trends in the Clinical Laboratory Analyzer Sector59
- 6.1Key Developments59
- 6.2Sector Consolidation59
- 6.3 Acquisition Pricing60
- 6.4A Closer Look at Six Big Lab Deals61
- 6.5Acquisition, License Agreements, Internal Development and Partnerships62
- 6.6Comparison of Quest and LabCorp66
- 6.6.1Quest66
- 6.6.2Acquisitions67
- 6.6.3Quest's Growth, 2000-200667
- 6.6.4Laboratory Corporation of America67
- 6.6.5LabCorp's Growth, 2000-200668
- 6.6.6Competitive Advantages at Quest and LabCorp68
- 6.6.7National Managed Care Contracts69
- 6.6.8Billing and Collection Management69
- 6.6.9Lower Reagent and Supply Costs69
- 6.6.10Esoteric Testing Capabilities69
- 6.6.11Ability to Invest in Web-Based Connectivity Solutions70
- 6.6.12Competitive Disadvantages of Quest and LabCorp70
- 6.6.13Difficulties with Turnaround Times and Stat Services70
- 6.6.14Physician-Laboratory Communication70
- 6.6.15Specimen Pickup Scheduling Inflexibility70
- 6.7Regulation of Clinical Laboratory Operations71
- 6.7.1CLIA and State Regulations72
- 6.7.2Drug Testing72
- 6.7.3Controlled Substances72
- 6.7.4Medical Waste, Hazardous Waste and Radioactive Materials72
- 6.7.5FDA72
- 6.7.6Occupational Safety73
- 6.7.7Specimen Transportation73
- 6.7.8Corporate Practice of Medicine73
- 6.8Hospital Outreach Programs73
- 6.9Supply Chain and GPO Contracting74
- 6.10Specialty Labs74
- 6.11Expansion of Hospital-Based Labs and Hospital Outreach Programs74
- 6.12Managed Care74
- 7.Company Profiles75
- 7.1ACM Medical Laboratory75
- 7.2American Esoteric Laboratories75
- 7.3American Medical Laboratories75
- 7.4AmeriPath76
- 7.5ARUP Laboratories76
- 7.6Athena Diagnostics76
- 7.7Bio-Reference Laboratories, Inc.77
- 7.8BioTech Labs77
- 7.9BioLabs, Inc.77
- 7.10CBLPath77
- 7.11Centrex Clinical Laboratories77
- 7.12Clarient, Inc.77
- 7.13Clinical Laboratories of Hawaii78
- 7.14Clinical Reference Laboratory78
- 7.15Clongen Laboratories78
- 7.16CompuNet Clinical Laboratories78
- 7.17Diagnostic Systems Laboratories79
- 7.18Enzo Biochem, Inc.79
- 7.19Esoterix80
- 7.20Focus Diagnostics80
- 7.21Fresenius Medical Care AG & Co. KGaA80
- 7.22Geneva Laboratories81
- 7.23Genomic Health, Inc.81
- 7.24Genzyme82
- 7.25IBT Laboratories83
- 7.26Integrated Regional Laboratories83
- 7.27LabCorp83
- 7.28MDS Diagnostic Services85
- 7.29MEDTOX Scientific, Inc.85
- 7.30Meriter Health Services85
- 7.31Mid America Clinical Laboratories86
- 7.32Monogram Biosciences, Inc.86
- 7.33Myriad Genetics, Inc.86
- 7.34National Jewish Medical and Research Center87
- 7.35Parkway Clinical Laboratories87
- 7.36Pathology Associates Medical Laboratories87
- 7.37Psychemedics Corporation87
- 7.38Quest Diagnostics Incorporated88
- 7.39RDL Reference Laboratory88
- 7.40Satellite Laboratory Services88
- 7.41Spectrum Laboratory Network89
- 8.Clinical Laboratory Testing Sector Trends and Forecasts90
- 8.1Home Care Analysis90
- 8.2Non-Traditional Collection for Laboratory Testing90
- 8.3New Systems for Critical-Care and Near-Patient Testing90
- 8.4Shift to Preventative Medicine90
- 8.5Mergers of Diagnostic Companies90
- 8.6Information Management Advances90
- 8.7Test Ordering Patterns90
- 8.8Patient Satisfaction90
- 8.9Move Away from Central Laboratory91
- 8.10Healthcare Cost Controls91
- 8.11Competition for Services91
- 8.12Drivers and Barriers of Clinical Laboratory Testing91
- 8.13Confluence of New Technology92
- 8.14New Trends in Clinical Laboratory Testing92
- 8.14.1Trends in Reimbursement Practices92
- 8.14.2Managed Care94
- 8.14.3Point of Care Testing95
- 8.14.4Satellite Facilities95
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