Earnings

[anonymous]

-69m
$100m cash left

Some folks better sharpen their resumes

 

[anonymous]

Frost will peel off Genpath and sell it to Quest or LabCorp. He didn't want it to begin with.

 

[anonymous]

Frost will peel off Genpath and sell it to Quest or LabCorp. He didn't want it to begin with.

You are a moron! Why would Quest and LabCorp buy anything from Bio? The company is going under. They will split the work up between the 2 of them once Bio is gone. You people need to wake up. The only way to save our company is to get more sale in, go back to being a lab rather than a pharma company, get rid of JPW, get rid of our awful billing company (Xifin), and hire a competent CEO. That is all we need to do. Now give a shout out if you think it is possible to accomplish all this. What is that I hear, crickets? We are doomed!

 

[anonymous]

Frost will peel off Genpath and sell it to Quest or LabCorp. He didn't want it to begin with.

What the hell are you talking about? Genpath is all this company has that is worth anything! f the above comment is from a fellow employee, no wonder we are failing!

 

[anonymous]

You are a moron! Why would Quest and LabCorp buy anything from Bio? The company is going under. They will split the work up between the 2 of them once Bio is gone. You people need to wake up. The only way to save our company is to get more sale in, go back to being a lab rather than a pharma company, get rid of JPW, get rid of our awful billing company (Xifin), and hire a competent CEO. That is all we need to do. Now give a shout out if you think it is possible to accomplish all this. What is that I hear, crickets? We are doomed!

Big Shout Out to the billing folks who screwed up another month of claims!

 

[anonymous]

You are a moron! Why would Quest and LabCorp buy anything from Bio? The company is going under. They will split the work up between the 2 of them once Bio is gone. You people need to wake up. The only way to save our company is to get more sale in, go back to being a lab rather than a pharma company, get rid of JPW, get rid of our awful billing company (Xifin), and hire a competent CEO. That is all we need to do. Now give a shout out if you think it is possible to accomplish all this. What is that I hear, crickets? We are doomed!

But we cannot accomplish of that while we continue to be out of network with big insurances across the country. JPW is saving upper management from jail time with our former billing practices.

 

[anonymous]

But we cannot accomplish of that while we continue to be out of network with big insurances across the country. JPW is saving upper management from jail time with our former billing practices.

JPW means well but she is a compliance lawyer. She gave advice from outside of companies. She is basically running BRL. This is not good! No one from OPKO will be going to jail from the past billing practices. Anytime lawyers get involved companies suffer. Also, we could get in network contracts we just have to accept L & Q pricing. Old and Current management do not want to accept this pricing. Is it better to get paid $0.60 on the dollar or not get paid at all. Also, Xifin is killing us. We pay a ton of money a year and what have we gotten. Since we went with them, our revenue has taken a dive. Is this a coincidence, I think not!

 

[anonymous]

JPW means well but she is a compliance lawyer. She gave advice from outside of companies. She is basically running BRL. This is not good! No one from OPKO will be going to jail from the past billing practices. Anytime lawyers get involved companies suffer. Also, we could get in network contracts we just have to accept L & Q pricing. Old and Current management do not want to accept this pricing. Is it better to get paid $0.60 on the dollar or not get paid at all. Also, Xifin is killing us. We pay a ton of money a year and what have we gotten. Since we went with them, our revenue has taken a dive. Is this a coincidence, I think not!

Stop crying maybe it is time for you to leave the company. Or maybe this time for you to build your pipeline .

 

[anonymous]

JPW means well but she is a compliance lawyer. She gave advice from outside of companies. She is basically running BRL. This is not good! No one from OPKO will be going to jail from the past billing practices. Anytime lawyers get involved companies suffer. Also, we could get in network contracts we just have to accept L & Q pricing. Old and Current management do not want to accept this pricing. Is it better to get paid $0.60 on the dollar or not get paid at all. Also, Xifin is killing us. We pay a ton of money a year and what have we gotten. Since we went with them, our revenue has taken a dive. Is this a coincidence, I think not!

Xifin is not the problem,

4 investigations in NY for billing practices

Palmetto has Bio Oncology panels in their sights for take backs

Huge panels now bundled payments.

This was a house of cards.

 

[anonymous]

Xifin is not the problem,

4 investigations in NY for billing practices

Palmetto has Bio Oncology panels in their sights for take backs

Huge panels now bundled payments.

This was a house of cards.

Really Xifin not the problem? I worked for 2 other labs that used Xifin. Within the first year of using them the revenue was down 20%. I worked in billing before I got into sales. Xifin, JPW and a bad business model is what is dooming us. Overhead is too high, too many lab locations, too many reps. Also why the hell did we sell our IT division. Only thing helping us compete with L & Q. The total give back for the audit swill be about 75m. We should have been able to weather this with 900m in revenue. Q4 was less than 150m. Puts us on pace for less than 600m. You cant lose over 400m just because of bundling and audits. Something else is going on and thing is Xifin!

 

[anonymous]

Really Xifin not the problem? I worked for 2 other labs that used Xifin. Within the first year of using them the revenue was down 20%. I worked in billing before I got into sales. Xifin, JPW and a bad business model is what is dooming us. Overhead is too high, too many lab locations, too many reps. Also why the hell did we sell our IT division. Only thing helping us compete with L & Q. The total give back for the audit swill be about 75m. We should have been able to weather this with 900m in revenue. Q4 was less than 150m. Puts us on pace for less than 600m. You cant lose over 400m just because of bundling and audits. Something else is going on and thing is Xifin!

#insider

 

[Facts]

Big Shout Out to the billing folks who screwed up another month of claims!

Big Shout our to Sales reps that offer no patient bill and indigent letters, that’s why Bio is under, they want commissions with no one to bill to. GTFOH

 

[anonymous]

You guys are all just little babies crying all the time.

The investigations are BS if you actually read them you would know, but you didn’t.

JPW is over the top but that what you get when your Alleged President leaves and they don’t backfill the spot.

Warren Erfman needs to go his operations folks are costing the company Tons of money with the business they are causing to be lost.

If he goes, we get a group president to assist and curb JPW we have a shot at being profitable again..

 

[anonymous]

You guys are all just little babies crying all the time.

The investigations are BS if you actually read them you would know, but you didn’t.

JPW is over the top but that what you get when your Alleged President leaves and they don’t backfill the spot.

Warren Erfman needs to go his operations folks are costing the company Tons of money with the business they are causing to be lost.

If he goes, we get a group president to assist and curb JPW we have a shot at being profitable again..

Who is "erfman"??? Lol

The investigation(S) is BS? If so, why is Jane in charge and the third compliance officer in five years?

What happened to all the 1099? Ray axed them

What happened to all the Phlebs who do office work? Anne axed them

What happened to all the billing practices and high rent PSC's? Jane axed them.

Who's next?

 

[anonymous]

Erfmann- A tenured bathroom attendant disguised as a lab operations executive. Capable of changing a roll of TP faster than his constant line of BS that is delivered daily.

 

[anonymous]

Erfmann- A tenured bathroom attendant disguised as a lab operations executive. Capable of changing a roll of TP faster than his constant line of BS that is delivered daily.

Take it easy, man. At least he has a job and wasn't fired like your ass probably/most likely/definitely was.

 

[anonymous]

Some tough talk from a butt buddy. I'm still here ! Is Erfmann still hitting up the love shack with a few of his disciples?

 

[anonymous]

Some tough talk from a butt buddy. I'm still here ! Is Erfmann still hitting up the love shack with a few of his disciples?

Yep! Him and RR still sippin’ whiskey in his back office while missed pickups keep happening and specimens keep getting left in vehicles. My accounts are really getting tired of this crap... when will they fix it?

 

[anonymous]

Erfman needs to go.

When do earnings come out? Wonder who gets the Axe next!

 

[anonymous]

Despite concerted efforts by sales to thwart billing, the earnings call highlights improved collections and DSO on lower business volume. What don’t you get about higher revenue on less volume? If only sales would concentrate on their job instead of the witty repartee.