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In October 2016, Labcorp acquired ClearPath Diagnostics, a provider of laboratory diagnostic services in the Northeastern United States, from Shore Capital Partners. [58] [59] In May 2017, Labcorp acquired Pathology Associates Medical Laboratories from Providence Health & Services and Catholic Health Initiatives. [60]
In order to be clear on the payment of a medical billing claim, the health care provider or medical biller must have complete knowledge of different insurance plans that insurance companies are offering, and the laws and regulations that preside over them. Large insurance companies can have up to 15 different plans contracted with one provider.
Invitae Corp. is a biotechnology company that was created as a subsidiary of Genomic Health in 2010 and then spun-off in 2012. [ 2 ] In 2017, Invitae acquired Good Start Genetics and CombiMatrix.
In June 2021, the company changed its name to Labcorp Drug Development. [55] In February 2023, the company was renamed Fortrea Holdings. [56] In July 2023, Labcorp completed the corporate spin-off of the company. [57] In June 2024, the company sold its Endpoint Clinical and Fortrea Patient Access businesses to Arsenal Capital Partners. [58]
Invitae's estimated assets were in the $500 million - $1 billion range, while its liabilities were in the $1 billion - $10 billion range, according to the bankrup ... Laboratory service provider ...
The acronym HCPCS originally stood for HCFA Common Procedure Coding System, a medical billing process used by the Centers for Medicare and Medicaid Services (CMS). Prior to 2001, CMS was known as the Health Care Financing Administration (HCFA).
A National Provider Identifier (NPI) is a unique 10-digit identification number issued to health care providers in the United States by the Centers for Medicare and Medicaid Services (CMS). The NPI has replaced the Unique Physician Identification Number (UPIN) as the required identifier for Medicare services, and is used by other payers ...
Quest Diagnostics set a record in April 2009 when it paid $302 million to the government to settle a Medicare fraud case alleging the company sold faulty medical testing kits. It was the largest qui tam (whistleblower) settlement paid by a medical lab for manufacturing and distributing a faulty product. [51]
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