Molecular Diagnostics at the Crossroads

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G2 Intelligence MDx NEXT Conference: Innovation in the Face of a Reimbursement Crunch


June 11-13, 2014 | Royal Sonesta Harbor Court| Baltimore

MOLECULAR DIAGNOSTIC TESTING AND YOUR LAB

Position Your Lab for Growth in the Ever-Expanding Molecular Diagnostic Testing Market

With recent big changes rocking the health care system, there is a strong call for efficient and cost-effective medical testing. And revolutionary molecular diagnostic testing is right at the forefront of this exciting paradigm shift.

Used to analyze biological markers in the human genome, molecular diagnostics, or MDx, has the ability to detect and monitor disease, genetic risk, and pharmacological effectiveness, and help determine which therapies best suit individual patients. MDx has the potential for bringing a break-through, personalized 360° approach to proactively treating patients, saving labs more money and creating a more efficient health care system.

Molecular diagnostics has boomed over the past 15 years. Much of the growth is attributed to the new technologies, innovations, and expanded applications available for testing that help make MDx such a promising vehicle for automated, personalized medicine.

The Possibilities of Personalized Medical Testing

According to molecular diagnostics research*, MDx can be used to test for a variety of diseases and applications:

  • General infectious disease, including tuberculosis, influenza, and AIDS-causing HIV-virus
  • Oncology
  • Hematology
  • Women’s health (predicting or detecting early cervical and breast cancer)
  • Prenatal testing for chromosomal abnormalities such as Down Syndrome
  • Pharmacology
  • Blood screening
  • Genetics and inherited diseases.

An inaccurate or missed diagnosis can be fatal. Molecular diagnostics means faster turnarounds, higher accuracy, and personalized full-spectrum care for the patient from the inside out.

MoPath Codes: What Do They Mean for Your Lab In the Uncharted Territory of MDx?

MoPath codes provide a framework to help laboratories label MDx tests, and to assist insurance companies with identifying and billing services. MoPath codes used to be based on the type of test performed, not the specific analyte itself. This made it difficult for payers to identify and reimburse MDx tests. The new MoPath codes, however, are analyte-specific, rather than methodology-based.

So, what does this mean for molecular diagnostic labs? Labs that hold a patent on certain niche tests will probably not be able to charge higher premium rates with the updated results-based coding system. However, the lowered rates could make molecular testing more accessible to patients, and more beneficial for the healthcare system in general.

LabMetrics at the G2 Intelligence MDx NEXT Conference to Help Strategize Your Success

A successful leader in technology-enabled life science consulting and lab solutions, LabMetrics is a proud sponsor at this year’s G2 Molecular Diagnostics Conference. From June 11-13 at the Royal Sonesta Harbor Court in Baltimore, join your peers while the nation’s top industry leaders discuss best strategies for successfully staking your claim in the molecular diagnostic testing frontier.

LabMetrics will be there to discuss how we can help with your lab’s success including:

  • Strategic planning
  • Improving deliverables and services to maintain your company’s competitive edge
  • Providing strong information technology solutions to facilitate quality testing
  • Counseling you on redesigning your department or lab to best meet your clients’ needs.

LabMetrics will provide you with guidance as you scale to the top of this health care revolution. Visit our site at www.labmetrics.com for more information.

Sources:
*http://www.gomolecular.com/discover/why_go_molecular.html
*http://www.qiagen.com/about-us/who-we-are/customers/molecular_diagnostics/
*http://en.wikipedia.org/wiki/Molecular_diagnostics

About LabMetrics

LabMetrics is a proud sponsor for G2 Intelligence.

A premier full-service lab and health information technology consulting firm, LabMetrics supplies innovative business, clinical and technology solutions to our clients in the laboratory and life sciences industries. A respected leader in the field of lab management consulting, LabMetrics provides a 360° approach to improve laboratory and pathology businesses.

Because LabMetrics’ team of experts stays abreast of the most recent business, compliance, operational, technology and scientific trends in the industry, our customized consulting helps you keep your competitive edge honed for success. Enduring today’s rocky healthcare landscape may seem to be survival of the fittest, but with LabMetrics solutions, we give you the lab management tools to thrive.

Check us out at www.labmetrics.com to see how we can help your lab adapt to the new changes in health care.

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