The Laboratory Diagnostics Segment Settles Down and Regroups Using Data Analytics and Tools for Providers and Consumers
After several years of government reimbursement pressure, headwinds are beginning to abate. Given the aging population, the significant positive impact in vitro diagnostics have on the medical care and controlling costs, the diagnostics market is expect to grow. This is especially the case in regard to molecular diagnostics and genetic testing, which enable more personalized and targeted therapeutic approaches. See accompanying chart.
Although all moving parts to diagnostic reimbursement and funding have not aligned yet, Quest Diagnostics reports growth in its Medicaid and managed Medicaid volumes in different markets around the country, as well as a decrease in uninsured patient volumes. These trends are consistent with more uninsured patients beginning to access health care.
In this changing climate, Quest Diagnostics addresses various constituencies to enhance connectivit, improve healthcare outcomes and reduce cost. For example:
- For physicians
Quest's Interactive Insights analytics program offers provider trending data, interactive features such as customizable reports and content, videos, and articles related to specific conditions and diseases.
- For hospitals
more than 100 customers are now using its IntelliTest Analytics solution, a tool providing hospitals, integrated delivery networks, and physician practices, with timely access to utilization data to assist with laboratory test optimization decisions and cost controls.
- For health plans
Quest has pilots for its Quest Analytics self-service informatics tool that enables health plan customers to query Quest's database to help manage populations of patients, and encourage the appropriate use of screening and monitoring tests to drive better health and efficiencies.
- For consumers
Quest offers wellness health-risk assessments, which will be expanded to help athletes and their coaches and trainers gain insights into the training recovery regiments, peak performance conditions and optimal dietary consumption. More than 1.8 million patients have now downloaded the MyQuest application, to access historical lab results. As the responsibility for managing and paying for healthcare shifts rapidly to consumers, Quest is positioning itself to be the consumer-friendly diagnostic testing provider.