Laboratory Economics Issues Research Report On U.S. Laboratory Demographic Trends

Laboratory Economics Issues Research Report On U.S. Laboratory Demographic Trends

Laboratory Economics Issues Research Report On U.S. Laboratory Demographic Trends

Laboratory Economics has just released The U.S. Laboratory Demographic Trends & Strategic Outlook 2025-2028. With this special report, you can tap into 200 pages of proprietary market research that reveals critical data and information about key business trends affecting the U.S. laboratory testing market.

U.S. Laboratory Demographic Trends & Strategic Outlook 2025-2028

The report reveals that the U.S. laboratory testing market represented an estimated $137.5 billion of revenue in 2025 with a long-term annual growth rate of 3-5%. Growth is currently being driven mostly by increased PCR-based microbiology testing and next-generation sequencing (NGS) tests to analyze genetic changes in cancer cells

The fastest-growing geographic markets are all concentrated in the South
Central and Southeast regions, including Sarasota, FL, Austin, TX,
Raleigh, NC, Orlando, FL, and Jacksonville, FL.

The U.S. laboratory testing market faces big challenges, including
post-pandemic employee wage inflation combined with five straight years
of flat reimbursement rates from Medicare and commercial insurance
payers. “Despite these challenges, the U.S. lab industry has
demonstrated a long track record of consistent growth,” according to
Jondavid Klipp, President of Laboratory Economics.

U.S. Laboratory Demographic Trends & Strategic Outlook 2025-2028

Next-Gen Sequencing Database

Next-Gen Sequencing Database

Next-Gen Sequencing Database

Laboratory Economics is offering a database of all 149 independent labs, 181 hospitals and 8 pathologists and other providers that perform Next-Gen Sequencing for 31 CPT and PLA procedure codes (e.g., 81432, 81433, 81435, 81437, 81450, etc.). The database includes annual Medicare Part B test volumes and allowed payments by test code for each provider (for calendar-year 2022). The database comes in easy-to-use and searchable Excel spreadsheets.

  • The data is in a user-friendly-excel spreadsheet that includes:
    • National Provider Identifier (NPI)
    • Provider Name & Complete Address + Phone
    • Specific Annual Medicare Part B Test Volume for 31 NGS CPT Codes for all Independent Labs, Hospitals,
    • Pathologists and Other Providers (2022)
    • Specific Annual Medicare Part B Allowed Payments for 31 NGS CPT Codes for all Independent Labs, Hospitals,
    • Pathologists and Other Providers (2022)
    • Overall Annual Next-Gen Sequencing Test Volume and Revenue Estimates for each Provider (2023)

 

  • Provide your sales rep with the data they need to succeed!
    • Data for all 50 states and Puerto Rico
    • Find NGS labs, hospitals and pathologists who can become your clients
    • Locate new NGS lab clients to grow your sales
    • Create targeted lists by location or specialty to focus on your best opportunities
    • Identify underserved markets for geographic expansion
    • Save time and money by using accurate, complete and consistent data

New Market Research Report on U.S. Clinical Laboratory Market

New Market Research Report on U.S. Clinical Laboratory Market

New Market Research Report on U.S. Clinical Laboratory Market

Laboratory Economics has just released The U.S. Clinical Laboratory  Industry Forecast & Trends 2023-2025. With this special report, you can 
tap into 100+ pages of proprietary market research that reveals critical  
data and information about key business trends affecting the U.S.
laboratory testing market.

The report reveals that the U.S. laboratory testing market represented
an estimated $125 billion of revenue in 2023 with a long-term annual
growth rate of 3-4%. Growth is currently being driven almost entirely by
increased PCR-based microbiology testing.

The U.S. laboratory testing market faces unprecedented challenges,
including the post-pandemic employee wage inflation, greater utilization
management and claims denials by private payers and persistent
reimbursement pressure. Despite these challenges, the U.S. lab industry
has shown persistent growth.

“The adoption of new higher-priced PCR-based test panels for respiratory
viruses, UTIs and STDs is helping to offset price and volume pressure on
routine clinical lab tests,” according to Jondavid Klipp, President of
Laboratory Economics.

The report includes:

  • More than 100 charts and graphs
  • U.S. lab market size and growth rates for 2012-2025
  • Detailed estimates for market subsets like hospital-based labs,
    independent labs, and physician-office-based labs
  • In-depth analysis of the PCR-based testing market size, growth rate,
    and highest-volume laboratories
  • Top 50 hospital outreach labs by Medicare CLFS and PFS payments
  • Detailed reimbursement rate information from Medicare CLFS, Aetna,
    Cigna, UnitedHealthcare, etc.
  • Comprehensive lab M&A valuation metrics by revenue and EBITDA
  • Results from Laboratory Economics Clinical Lab Trends Surveys from
    2014 through 2023
  • The biggest challenges and opportunities for labs

Laboratory companies highlighted include:

  • ACL Laboratories
  • ARUP Laboratories
  • Exact Sciences
  • Fulgent Genetics
  • Labcorp
  • Mayo Clinic Laboratories
  • Myriad Genetics
  • NeoGenomics
  • Northwell Health Labs
  • OPKO/BioReference Labs
  • PathAI/Poplar Healthcare
  • PathGroup
  • Quest Diagnostics
  • Sonic Healthcare

The U.S. Clinical Laboratory Industry: Forecast & Trends 2023-2025 is
published by Laboratory Economics (www.laboratoryeconomics.com), an
independent market research firm focused exclusively on the business of
pathology and laboratory medicine.

New Research Report on U.S. Anatomic Pathology Market

New Research Report on U.S. Anatomic Pathology Market

New Research Report on U.S. Anatomic Pathology Market

Laboratory Economics has just released The U.S. Anatomic Pathology Market: Forecast & Trends 2022-2024. With this special report, you can tap into 150 pages of proprietary market research that reveals critical data and information about key business trends affecting the anatomic pathology market.

The report reveals that the U.S. anatomic pathology market represented an estimated $25.8 billion of revenue in 2022 with a long-term annual growth rate of 7-8%. Growth is being driven almost entirely by increased molecular oncology testing.

U.S. Anatomic Pathology Market

The U.S. anatomic pathology market faces unprecedented change, including the introduction of artificial intelligence tools that increase pathologist productivity, greater utilization management by private payers and persistent reimbursement pressure.

“The introduction of new higher-priced molecular oncology tests and next-generation sequencing for tumor mutation profiling should more than offset price and volume pressure on routine pathology tests,” according to Jondavid Klipp, President of Laboratory Economics.

“In addition, the introduction of AI software tools that enhance pathologist productivity has the potential to profoundly change the way pathology is practiced within the next 3-5 years.”

The report includes:

  • More than 150 charts and graphs
  • Pathology market size and growth rates
  • Detailed estimates for market subsets like uropathology,
    dermatopathology, and gastrointestinal pathology
  • In-depth analysis of the molecular oncology testing market size and growth rates
  • Medicare claims data for 60+ key pathology codes covering surgical pathology, molecular oncology, immunohistochemistry and special stains, tumor marker immunoassays, FISH testing and flow cytometry
  • Cervical cancer testing trends and pricing data
  • In-office histology lab trends
  • Detailed analysis of the emerging digital pathology & AI market
  • Results from Laboratory Economics Anatomic Pathology
    and Clinical Lab Trends Surveys from 2015 through 2021

Anatomic pathology companies highlighted include:

  • Ambry Genetics
  • Bako Diagnostics
  • Caris Life Sciences
  • CellNetix Pathology & Laboratories
  • Exact Sciences
  • Foundation Medicine
  • Fulgent Genetics
  • Guardant Health
  • Labcorp
  • Mayo Clinic Laboratories
  • Myriad Genetics
  • NeoGenomics
  • OPKO/BioReference Labs
  • PathAI/Poplar Healthcare
  • PathGroup
  • Quest Diagnostics
  • Sonic Healthcare/Aurora Diagnostics/ProPath Services

The U.S. Anatomic Pathology Market: Forecast & Trends 2022-2024 is published by Laboratory Economics, an independent market research firm focused exclusively on the business of pathology and laboratory medicine.

MT Salaries Skyrocket As Labs Struggle To Find MTs

MT Salaries Skyrocket As Labs Struggle To Find MTs

MT Salaries Skyrocket As Labs Struggle To Find MTs

Today, laboratories are offering salaries and sign-on bonuses to medical technologists (MTs) that have never been seen before. In the San Francisco Bay Area and San Diego, lab clients are paying salaries as high as $150,000 and $180,000 to attract staff MTs with sign-on bonuses of more than $25,000, according to Ed Dooling, Chief Executive of Vanguard Healthcare Staffing (Sparta, NJ). He says MT salaries offered by independent labs in some markets have roughly doubled since the start of the pandemic.

PCR analyzers and Covid-19 test reagents were the bottleneck in the early months of the pandemic, but staffing shortages have proven to be a bigger and more persistent challenge. The pipeline of new MTs was disrupted as many labs temporarily shut down their clinical training rotations during the pandemic. In addition, older MTs retired to avoid exposure or got burned out due to extraordinary overtime demands. A huge increase in the number of new lab formations resulted in an intense competition for MTs, according to Dooling.

For example, independent labs in Toledo, Ohio are offering MT sign-on bonuses of $20,000 to $30,000 with salaries in the range of $80,000 to $90,000, according to Mason Shaw, Scientific Talent Recruiter at Vanguard. He notes that pre-pandemic salaries had ranged between $50,000 and $75,000 in this market.

Shaw notes that the length of time a new MT hire must stay before a sign-on bonus is paid varies by the lab company. “I have heard of a full year, 6 months, or 3 months, it depends on the offer and the negotiation.”

In addition, Shaw says that traveling MTs filling 3- to 12-month temporary positions are now being paid as much as $90 per hour. Pre-pandemic rates had averaged roughly $50-65 per hour for traveling MTs.

“Lab employees had always been treated like the red-headed stepchildren of healthcare. But the pandemic has raised their recognition and pay,” says Shaw.

Separately, Kevin Hunter, President of Colaborate (Tampa, FL), says his consulting firm helped set up 83 new Covid-19 PCR testing labs during the past two years. “We have seen $35,000 sign-on bonuses, significant relocation packages and starting salaries in the $125,000 range.”

For example, Hunter says that an independent lab in Dallas recently offered a salary of $125,000 plus a $25,000 sign-on bonus and six week’s paid vacation to hire an MT. “While some of this can be attributed to the retirement wave, the pandemic has put a tremendous burden on an
overworked staff, and with 50,000 new CLIA labs started since the beginning of Covid, there just aren’t enough workers to go around.”

Finally, Vanguard’s Dooling says that lab staff overtime hours have recently begun to decline as Covid test volumes have fallen. Nonetheless, he does not see the heightened MT salaries reverting to pre-pandemic levels. “It looks like this is the new normal.”

MT Salaries Skyrocket As Labs Struggle To Find MTs
Biopsy Client Database for Pathologists

Biopsy Client Database for Pathologists

Biopsy Client Database for Pathologists

Laboratory Economics is offering a database of 50,000+ specialty physicians and ambulatory surgery centers that perform biopsies that lead to pathology referrals. The database includes annual Medicare Part B biopsy volumes for 2019 plus estimated overall biopsy volumes for each provider for 2021.

The database comes in easy-to-use and searchable Excel spreadsheets. It includes detailed biopsy volume figures for seven key specialty physician categories, including Breast Cancer (4,000+ providers), Cervix (600+ providers), Dermatology (18,000+ providers), FNA Biopsies (3,900+ providers), Gastroenterology/Colorectal (20,000+ providers), Urology/
Prostate (5,500+ providers) and Lung (2,000+ providers).

THE DATA IS PRESENTED IN A USER-FRIENDLY EXCEL SPREADSHEET AND INCLUDES:

• National Provider Identifier (NPI)
• Provider Name
• Address
• Specialty (Breast, Cervix, Dermatology, FNA Biopsies, Gastro/Colorectal,          Lung and Urology/Prostate)
• Specific Annual Medicare Biopsy Volume by CPT Code (2019)
• Overall Annual Biopsy Volume Estimates (2021)

PROVIDE YOUR SALES REPS WITH THE DATA THEY NEED TO SUCCEED! • Data for all 50 states and Puerto Rico
• Find new biopsy referral clients to grow your sales
• Create targeted lists by location or specialty to focus on your best opportunities
• Identify underserved markets for geographic expansion
• Save time and money by using accurate, complete and consistent data