The drum beat for managing the COVID-19 pandemic from public health leaders continues to be test, test, test. Before investing in new technology, there are several considerations that chief financial officers should consider.
The COVID pandemic has produced many new challenges for hospital-based laboratories. One area that laboratory leaders may find immediate cost reduction opportunities is through a review of utilization and pricing for reference laboratory services.
As a nurse with decades of experience, I have been perplexed by the ongoing reporting challenges related to testing for COVID-19. There are a multitude of vendors providing the various tests that determine if a patient is infected with the active virus and those that detect antibodies that indicate prior infection. There is a broad variation in turnaround time for results — from a few hours to a few days to even weeks for some. It is an unprecedented health care issue with an unprecedented response.
At the beginning of the COVID-19 pandemic, medical laboratories immediately experienced a decline in testing volume. And, while the test volumes are inching upward as labs find their footing in the new pandemic environment, the rate of recovery is slower than anticipated.
[Full disclosure: your author is a Canadian import] After several months of D.C. chatter and countless state importation bills, FDA recently took two significant regulatory steps to allow for prescription drug importation from Canada. Wait, you thought importation was already happening in Florida? Not quite.
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