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Physicians Reference Laboratory history
Physicians Reference Laboratory company history timeline
The Sammons Cancer Center, which opened in 1977, had profound effects on the pathology department.
A nephrology laboratory was introduced in 1978 when Doctor Martin White was appointed director of nephrology for the institution.
In 1978, for example, “lowest-charge” reimbursement was established for 12 commonly used laboratory tests.
Doctor James J. Aguanno, a PhD from Memphis State University, joined the clinical chemistry staff in 1980.
In 1981, BUMC took over the transfusion service from the Wadley Blood Institute.
Ten years later, in 1982, Doctor Tillery became assistant laboratory director.
After arriving in 1982, Doctor Daniel Savino served as a surgical pathologist and took over many specialty areas in the field of renal pathology, immunohistochemistry, breast pathology, and muscle and nerve pathology.
The Tax Equity and Fiscal Responsibility Act, adopted in 1982, brought laboratories along with other units of hospitals under reimbursement limits.
1983: Business Men's Assurance Company, a company owned by Seafield Capital, acquires Home Office Reference Laboratory.
Regional Medical Laboratory, Inc. (RML) is a fully integrated, for profit, clinical laboratory corporation, established in 1983.
Doctor Marengo-Rowe recalled that in 1985, the transfusion service moved to a new location on the second floor of Roberts Hospital.
1985: Home Office introduces a test for exposure to the AIDS virus.
In 1986, an ancillary laboratory was created to support the newly developed organ transplant and bone marrow transplant service.
Doctor George Race served as director of the pathology residency training program from the time of his arrival in the department until 1986.
In 1986, a major change was made in the direction and administration of the BUMC laboratories.
In about 1987, therefore, it was considered essential by BHCS's pathologists that a major effort be made to select and obtain a laboratory information system that could provide the massive amounts of data processing and control capacity needed by BUMC's laboratories.
1987: Home Office goes public.
In 1988, the Clinical Laboratories Improvement Act extended federal jurisdiction for the regulation of clinical laboratory quality to all clinical laboratories in the USA. The act also provided for Medicare coverage of selected preventive laboratory services, including Pap smears every 3 years.
In 1989, after the many months of work by BUMC's staff, Cerner, the new laboratory system, arrived and was installed and tested.
With the deterioration of service levels, the partnership was dissolved in 1989.
Testing introduced in 1990, along with stricter selection of donors, reduced successfully the incidence of post-transfusion hepatitis from 1 in 200 to <1 in 100,000.
In the following year, the Omnibus Budget Reconciliation Act of 1990 reduced laboratory fee schedules again and barred self referral to laboratories owned by physicians.
1990: Seafield Capital sells off Business Men's Assurance but retains its stake in Home Office.
In early 1991, the company lost one of its largest clients--Metropolitan Life--when the mammoth insurance company moved all of its testing business in-house.
Competition was growing in the once-tiny lab-testing market. It also began buying back stock in Home Office, increasing its ownership to more than 80 percent by 1993.
In October 1995, after just two years at the helm, LabOne's CEO Bert Hood left the company.
Year-end results for 1995 showed a 6 percent decrease in sales and, more significantly, a 51 percent decrease in earnings.
Having just struggled through a business slowdown, LabOne was, by late 1997, facing a new problem: how to accommodate its sudden growth.
Net earnings rose to $9.2 million--up from $2.2 million in 1997.
The parent company, formerly called Seafield Capital, had changed its name in 1997 to Lab Holdings, Inc. to better reflect its focus on the lab testing industry.
Doctor Dysert served as president of BUMC's medical staff in 1998.
In 1998, LabOne continued to expand.
In June 1999, LabOne partnered with USA Managed Care Organization, a Kansas-based company, to market the Lab Card program to USA Managed Care's large client base.
In 2000, BUMC had 18 approved pathology resident trainee positions.
The new product, named Intercept, was introduced in early 2000 and was marketed primarily to small and medium-sized businesses.
The company also posted a net loss for 2000 of $524,000--down from earnings of $2.9 million the previous year.
Doctor Burton joined the staff in 2001 after completing a forensics fellowship at Louisiana State University.
BUMC core laboratory, 2001.
In late 2001, the company launched a significant expansion by purchased its rival, Osborn Group Inc., for $49 million.
In 2004, RML performed over 7 million clinical and anatomic laboratory tests, including over 100,000 surgical pathology case interpretations and over 70,000 cytology cases.
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Physicians Reference Laboratory competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| BioReference Laboratories | 1981 | - | 5,000 | - |
| Solstas Lab Partners Group, LLC | 1997 | $270.0M | 3,000 | - |
| South Bend Medical Foundation | 1912 | $91.8M | 750 | 48 |
| UNILAB CORP | 1988 | $95.3M | 37,000 | - |
| American Esoterics Laboratories | 2003 | $36.7M | 3,000 | 2 |
| Synergy Laboratories | 2015 | $1.6M | 50 | 2 |
| Clinical Laboratory Partners | 1998 | $52.0M | 500 | - |
| PathGroup | 1996 | $97.0M | 800 | 136 |
| CompuNet Clinical Laboratories | 1986 | $97.0M | 600 | - |
| Select Laboratory Partners | 2004 | $6.0M | 74 | 2 |
Physicians Reference Laboratory history FAQs
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