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R. Lewis Dark: When Laboratory Vendors Go Bankrupt
Bankruptcy among vendors and suppliers in the laboratory industry is an uncommon event. Since it is so rare, that is one less issue about which laboratory directors and pathologists must worry
However, occasionally there are reminders that it is good management practice to track the financial stability of your laboratory's primary vendors and suppliers. One such example is IMPATH, Inc.'s recent bankruptcy, which had the potential to cause significant problems for Tamtron, Inc., its business division which sells PowerPath®. As most know, PowerPath is one of the nation's leading information systems for anatomic pathology. Had Tamtron been affected by IMPATH's financial woes, the effect might have been felt across several hundred laboratory sites where PowerPath is in use. (See pages 6-9.)
The other reminder is LAB-Interlink, Inc., the manufacturer of laboratory automation systems based in Omaha, Nebraska. In late November, the company laid off the majority of its employees and operates from a skeleton staff and shoe string budget. This followed a year of strenuous effort to find an investor or buyer for the company. As you will read, the company has not filed bankruptcy in the United States. However, its inability to properly fund service staff and stock inventory has placed a burden on at least some laboratories which use its automation systems. (See pages 2-6.)
Laboratory administrators and pathologists should consider both these examples to be timely warnings about the importance of"knowing your supplier." No laboratory wants to go through the experience of having an automated line in the high-volume core laboratory cease operations completely—with no warning and no opportunity to regroup. Yet that's precisely the situation at the laboratory division of West Tennessee Healthcare in Jackson, Tennessee. It may take more than six months before that laboratory can get a replacement automation solution installed and into full operation. In the meantime, imagine the stress on the laboratory staff, already at full productivity, having to compensate for the lack of the automation system.
Another lesson to be gleaned from the Tamtron and LAB-Interlink examples is that things can change for the worse very rapidly. For that reason, lab directors and pathologists should regularly evaluate the financial stability of their laboratory's key vendors and suppliers.
LAB-Interlink Hangs On
Despite Financial Woes
Contrary to rumors, lab automation firm
has not filed for bankruptcy protection
CEO SUMMARY: It's an uphill struggle at LAB-Interlink, based in Omaha, Nebraska. Short of funds, staffed with only a few employees, and urgently seeking capital, the company has so far managed to avoid filing for protection under bankruptcy laws. It is an unwelcome turn of events, since, in past years, LAB-Interlink was considered one of the leading manufacturers of laboratory automation products.
LAB-Interlink Clients
Experience Highs & Lows
Although service is still available, some
laboratory customers report problems
CEO SUMMARY: It was right before Thanksgiving weekend when LAB-Interlink laid off most of its staff and was left with a skeleton crew. Since that date, at least one major laboratory customer was unable to get needed service and parts, causing a total shut-down of its automated line. However, other customers of LAB-Interlink report no unusual problems or service issues.
Free of IMPATH, Tamtron
Ready For A New Future
IMPAC buys the company from IMPATH,
Tamtron is handed new opportunities
CEO SUMMARY: Tamtron's fortunes look much brighter with its acquisition by IMPAC Medical Systems, Inc., a healthcare information vendor with existing products for radiation oncology, oncology, and urology. IMPAC's strategy is to create a"total solution" for oncology. That means Tamtron's anatomic pathology information system is expected to play a major role in IMPAC's core strategy.
Web Lab Test Ordering
Market Is Increasing
Growing numbers of labs are buying
systems for lab test ordering/reporting
CEO SUMMARY: In recent few years, the market for browser-based laboratory test ordering and results reporting systems has grown at a steady rate. Second and third generation products are more robust, offer more features, and are easier to install and operate. To date, smaller start-up companies are capturing more sales than the big healthcare IT corporations, and at least one expert predicts that trend will continue.
More Firms Now Offer Web Lab Info Products
Growing number of products in the market
for lab test ordering and results reporting
CEO SUMMARY: Since our last vendor directory in winter 2001, the number of companies selling browser-based systems for laboratory testing ordering and results
reporting has doubled! That's a sign that laboratories recognize the need to have an Internet strategy and are taking steps to deploy these types of Web-based services for their physicians.
INTELLIGENCE:
More Physicians Decide To Drop
Malpractice
Insurance
ADD To: Malpractice
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