67 WALL STREET, New York - August 21, 2013 - The Wall Street Transcript has just published its Medical Research, Diagnostic Substances and Life Science Tools Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Health Care Consolidation Activity - Cost Reduction and Improving Efficiencies - Cost Reduction Amid Reimbursement Uncertainty
Companies include: Laboratory Corp. of America Ho (LH), Sequenom Inc. (SQNM), Luminex Corporation (LMNX), Illumina Inc. (ILMN), Johnson & Johnson (JNJ), Thermo Fisher Scientific, Inc. (TMO), Life Technologies Corporation (LIFE), Abbott Laboratories (ABT), Genomic Health Inc. (GHDX), Hologic Inc. (HOLX), Siemens AG (SI), Cepheid (CPHD), Quidel Corp. (QDEL) and many others.
In the following excerpt from the Medical Research, Diagnostic Substances and Life Science Tools Report, an expert analyst discusses the outlook for the sector for investors:
TWST: Where is your attention focused in the med tech space?
Mr. Quirk: My attention is focused on diagnostics and life science tools for Piper Jaffray.
TWST: What's gone on in the space over the past year or so?
Mr. Quirk: We've been spending a lot of time looking at reimbursement. This goes back about 18 months at this point. Specifically there are two different programs; one is the formal MolDx program that was initiated by Medicare contractor, Palmetto, in conjunction with their partner, McKesson.
The thought behind this was to try to make some sense of the code-stacking process, which was becoming quite frustrating to a lot of the payers, because they would see code stacks for diagnostic tests; however, they didn't frequently get enough information to actually discern which specific test they were paying for, and so the system was potentially subject to inappropriate testing. McKesson and Palmetto embarked on the strategy to improve the disclosure for these tests and thereby creating several thousand new codes.
At the same time, the American Medical Association recognized they, too, needed to expand the CPT coding process. No doubt probably feeling a little threatened by what was going on with McKesson and Palmetto, the AMA rolled out a series of additional CPT codes. These were in a couple of different tiers, and at this point are about 114 new CPT codes...
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.