Why Should You Attend:
This webinar will discuss how the lab payment cuts imposed by PAMA is shifting the competitive landscape for the U.S. laboratory industry. Specifically, the program will cover how the fallout from PAMA is altering the competitive dynamics between national and hospital outreach labs as well as providing a financial advantage to certain specialty labs offering proprietary tests and other labs performing advanced diagnostic laboratory tests (ADLTs).
Meantime, the very survival of small community labs along with some regional labs that serve niche markets, such as nursing homes, skilled nursing facilities and home bound patients is at stake. That’s because its these labs that are being hit the hardest by PAMA since they mostly perform a limited number of high-volume tests which are suffering the biggest cuts under the new Medicare market-based payment system. Finally, the webinar will discuss how the competitive reset will impact the trend toward industry consolidation.
Areas Covered in the Webinar:
Who Will Benefit:
Dennis Weissman, A nationally recognized, independent analyst and thought leader in the diagnostic field for over three decades, Dennis is President of Dennis Weissman & Associates, LLC, Falls Church, VA, a consultancy which provides market intelligence, M&A advisory services, business leadership and public policy advice to diagnostic and life science companies and organizations. He has expertise in Medicare and health care reform policies and trends; clinical lab and pathology payment & compliance policies as well as business trends affecting the diagnostic sector. Dennis founded and served as publisher of Washington G-2 Reports (now G2 Intelligence) through 1999, an information company that reports on and analyzes the U.S. clinical laboratory industry via newsletters, research reports and conferences. Prior to G2, he served as the Director of the Washington Office of the American Society for Medical Technology (now ASCLS) and before that, Special Assistant to the Deputy Assistant Secretary for Health, Department of Health, Education & Welfare (now HHS).
Starting in 2018, Medicare reimbursement for most high-volume and many other laboratory tests saw 10 percent reductions as required by the Protecting Access to Medicare Act (PAMA). Many common lab tests will see an another 10% reduction in both 2019 and 2020 followed by up to an additional 15% for each of the next three years as required by PAMA. All clinical labs in the U.S. — from the largest national reference labs to hospital outreach labs to physician office labs are being impacted by these substantial cuts. Moreover, reduced Medicare payments are also in lower payments to state Medicaid programs and are having a ripple effect on commercial payers which are moving to adjust their rates downward as part of revised contract terms.
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