State of Mid-Atlantic Labs

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anonymous

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With all the talk on here about Ammon, Medcreen, Clarity, ADL, SDX/Mako, RDX/Xeron and many other NE labs, is there any future in the lab industry? NY is a mess with Enzo selling to LC, Xeron being sold, (Sherman Abrahms, all Russina owned labs & Lenco pay to play business model, BRL being BRL, Accurate is gone, and TrueTox bankruptcy rumors. The tox market has not come back due to COVID and NJ Medicaid cuts. NY tox is worthless due to low pay and new drug testing guidelines. Delaware is a Labcorp strong hold. PA and the HealthChoices limitations. Maryland is small and everyone is fighting over the same 40 accounts. Blood testing is tough due to everyone having limited insurance contracts (except L & Q). It seems there is no future unless your name is LabCorp or Quest or you have deep pockets to develop a companion or specialty test (ala ProPhase)

What are everyone's thoughts on this? And please no personal attacks on anyone. Just your honest assessment of the NE lab market. I for one have my resume out there and are looking at healthcare IT and pharma.
 




anonymous said:
With all the talk on here about Ammon, Medcreen, Clarity, ADL, SDX/Mako, RDX/Xeron and many other NE labs, is there any future in the lab industry? NY is a mess with Enzo selling to LC, Xeron being sold, (Sherman Abrahms, all Russina owned labs & Lenco pay to play business model, BRL being BRL, Accurate is gone, and TrueTox bankruptcy rumors. The tox market has not come back due to COVID and NJ Medicaid cuts. NY tox is worthless due to low pay and new drug testing guidelines. Delaware is a Labcorp strong hold. PA and the HealthChoices limitations. Maryland is small and everyone is fighting over the same 40 accounts. Blood testing is tough due to everyone having limited insurance contracts (except L & Q). It seems there is no future unless your name is LabCorp or Quest or you have deep pockets to develop a companion or specialty test (ala ProPhase)

What are everyone's thoughts on this? And please no personal attacks on anyone. Just your honest assessment of the NE lab market. I for one have my resume out there and are looking at healthcare IT and pharma.
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You pretty much summed it up that the lab industry is in a tailspin. Even specialty labs, once thought to be immune, are having massive layoffs in sales and/or shutting down their entire commercial effort. I would recommend looking in a different sector of healthcare given the reimbursement challenges and gloomy outlook for labs, especially full service routine labs.
 




anonymous said:
You pretty much summed it up that the lab industry is in a tailspin. Even specialty labs, once thought to be immune, are having massive layoffs in sales and/or shutting down their entire commercial effort. I would recommend looking in a different sector of healthcare given the reimbursement challenges and gloomy outlook for labs, especially full service routine labs.
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There is a ton of opportunity still in lab in the northeast. You are mentioning all shady labs. You are missing a few others like quality, Acutis, top labs. The big specialty labs are still stable career choice. I think finding the right company and leadership will help tremendously. I wouldn’t recommend pharma over lab. It’s the same except lab you will have more opportunity to make bigger paychex. Healthcare IT seems to be where a lot of people are moving into. My advice would be to research if you want to be in the diagnostic Space. But it’s definitely far from being dead. Good luck in your search.
 




The post summarizes all well enough, the shady labs made it harder for the industry. Especially with Ammon and their shady charity scam, and then truetox’s many messes. It does seem like the leading labs you mentioned will take over. Time will tell, but many of the labs you mentioned are ticking time bombs.
 




anonymous said:
There is a ton of opportunity still in lab in the northeast. You are mentioning all shady labs. You are missing a few others like quality, Acutis, top labs. The big specialty labs are still stable career choice. I think finding the right company and leadership will help tremendously. I wouldn’t recommend pharma over lab. It’s the same except lab you will have more opportunity to make bigger paychex. Healthcare IT seems to be where a lot of people are moving into. My advice would be to research if you want to be in the diagnostic Space. But it’s definitely far from being dead. Good luck in your search.
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Acutis and other specialty labs are sinking ships too. How long do you think the insurance companies are going to keep paying for Molecular tests at high reimbursement. Those days are quickly coming to a halt. L & Q will also buy up Acutis and other labs if they get too big.
 




anonymous said:
There is a ton of opportunity still in lab in the northeast. You are mentioning all shady labs. You are missing a few others like quality, Acutis, top labs. The big specialty labs are still stable career choice. I think finding the right company and leadership will help tremendously. I wouldn’t recommend pharma over lab. It’s the same except lab you will have more opportunity to make bigger paychex. Healthcare IT seems to be where a lot of people are moving into. My advice would be to research if you want to be in the diagnostic Space. But it’s definitely far from being dead. Good luck in your search.
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Give us a break with the Acutis speech. The CEO is as slimy as they come and everyone knows his reputation. It's a cultural thing and will ultimately bring the company unwanted scrutiny.`
 




anonymous said:
Give us a break with the Acutis speech. The CEO is as slimy as they come and everyone knows his reputation. It's a cultural thing and will ultimately bring the company unwanted scrutiny.`
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i was saying the post missed a few shady ones aka Acutis clarity and top labs. Read my post next time bc i agree with you i was just letting the guy know he missed some
 








anonymous said:
Heard Clarity and MedScreen no longer for sale. Not sure about Ammon. These labs will regret not selling now as there is only pain on the horizon for tox labs!
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Haven’t they wanted out for a while with all the chaos that’s been taking place? It doesn’t seem to be a changing situation either for this whole thing.

Clarity isn’t as huge but to be huge will take a lot. I’ve heard Medscreen owners did want out. With Ammon like the other labs they’re struggling and it’s said they’re coming out of bankruptcy on the other talk forums. Merging was on the table as featured around.
 




anonymous said:
Heard Clarity and MedScreen no longer for sale. Not sure about Ammon. These labs will regret not selling now as there is only pain on the horizon for tox labs!
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Lets be clear on one thing, they are both for sale. These labs would sell in a minute, but there are no interested parties with all the potential liability from NJ MA audits.
 








Not sure about MedScreen but Clarity had a clean NJ Medicaid audit last year. Still doesn’t matter as the reimbursement has certainly changed and it will be doomsday for all these smaller labs!
 




The tox labs are taking a huge hit. All of these labs and their owners want to get out asap. Employees are hopefully looking for better pursuits because it’s a done deal with these labs. Ammon as an example wasn’t able to get themselves back up there. They’re slowly crumbling. All labs should take that warning and sell as soon as they can.
 








Ammon is selling. Enzo deal closing June 24. MedScreen off the market and paying off clients to get as much business as possible to go back on the market again. True Tox barely scraping by. Clarity close to closing. SDX/Mako a mess, Parkway Clinical close to shutting down. RDX/Xeron in shambles. Other NY labs running at 70% pre-COVID capacity and struggling. BRL lay offs happening. The lab industry is a total mess. LC & Q are ok because they just keep buying revenue to make it look like they are growing but they are paying 1.5-2.5x revenue, but they have so much COVID cash they can hide their requisition decline. I am looking to move into another field. Lab industry is dead!
 




anonymous said:
Ammon is selling. Enzo deal closing June 24. MedScreen off the market and paying off clients to get as much business as possible to go back on the market again. True Tox barely scraping by. Clarity close to closing. SDX/Mako a mess, Parkway Clinical close to shutting down. RDX/Xeron in shambles. Other NY labs running at 70% pre-COVID capacity and struggling. BRL lay offs happening. The lab industry is a total mess. LC & Q are ok because they just keep buying revenue to make it look like they are growing but they are paying 1.5-2.5x revenue, but they have so much COVID cash they can hide their requisition decline. I am looking to move into another field. Lab industry is dead!
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Accurate assessment. Stay away from tbe lab industry unless you want to hide at one of the national labs doing very little.
 




anonymous said:
Ammon is selling. Enzo deal closing June 24. MedScreen off the market and paying off clients to get as much business as possible to go back on the market again. True Tox barely scraping by. Clarity close to closing. SDX/Mako a mess, Parkway Clinical close to shutting down. RDX/Xeron in shambles. Other NY labs running at 70% pre-COVID capacity and struggling. BRL lay offs happening. The lab industry is a total mess. LC & Q are ok because they just keep buying revenue to make it look like they are growing but they are paying 1.5-2.5x revenue, but they have so much COVID cash they can hide their requisition decline. I am looking to move into another field. Lab industry is dead!
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How much is Ammon Labs selling for? Does this include the business with the clinics they have left?
 
















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