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Medical & Diagnostic Laboratories Quarterly Update - Q3 2016

Posted

Opportunity: Labs Provide Outreach at Employer Medical Clinics 

On-site employee health clinics in the US are expanding in number and scope, and medical laboratories are gaining opportunities to provide outsourced diagnostic services to corporate clients. Many employers are creating health clinics within or near their offices to make medical care more accessible and affordable and less time-consuming for employees. Established clinics are increasing the level of care to include more health monitoring, screening, disease management, and consulting services that medical and pathology labs can assist with, according to Dark Daily. Laboratory testing often ties into corporate wellness programs that seek to provide benchmarks for employees to monitor their health and wellness progress. Some 29% of employers had onsite health clinics in 2015, up from 24% in 2013, according to a survey from Mercer, with most employers deeming clinics a success due to increased production, better management of chronic conditions, and other factors.

Industry Impact
Laboratory operators can benefit from partnering with corporations to provide on-site diagnostic services to employees.

INDUSTRY INDICATORS

US consumer prices for medical care commodities, which may impact medical and imaging laboratories' operational costs for equipment and supplies, increased 3.6% in July 2016 compared to the same period in 2015.

US consumer prices for medical care services, an indicator of profitability for medical and imaging laboratories, rose 4.1% in July 2016 compared to the same month in 2015.

Total US revenue for medical and diagnostic laboratories rose 3.5% in the first quarter of 2016 compared to the previous year.