Tempus AI (Chicago, IL) was the fastest growing lab from 2021-2024 based on the newly released Medicare Part B payment data for 2024. Tempus AI’s Medicare Part B allowed payments jumped from $9.1 million in 2021 to $148.8 million in 2024 for a compound annual growth rate (CAGR) of 154%. Tempus AI, which had an IPO in June 2024, specializes in next-gen sequencing and PCR-based testing.
Concord Life Sciences (Houston, TX) received $18.8 million in Part B allowed payments in 2024, an increase of 84% per year from $3 million in 2021. Concord (dba Principle Laboratory) specializes in nursing home lab services and PCR testing.
Natera Inc. (San Carlos, CA) received $195.6 million from Medicare Part B allowed payments in 2024, an increase of 74% per year from $37.4 million in 2021. Natera specializes in minimal residual disease (MRD) testing for cancer patients.
