Educating Tomorrow’s Laboratory Leaders in Diagnostics

At XiFin, our mission is to help diagnostic providers thrive by offering interoperability in health information technology that ultimately unleashes their power to succeed, both financially and in improving patient outcomes. One thing that supports this effort is actively engaging in critical industry-level discussions. I personally represent XiFin on several industry and investor forums.

For the past several years, I have participated as a guest lecturer in a graduate level course given by Mara G. Aspinall at the International School of Biomedical Diagnostics at Arizona State University, which Mara co-founded. Last year, Mara asked me to teach an entire class on the Commercialization of Biomedical Diagnostics.  This masters level program is offered on an online basis, so students from all over the country can participate. This year’s varied group included mostly mid-career laboratory professionals, as well as a few people who are just starting out in the field.

My experience consulting with many diagnostic companies over the years has shown me that some people jump into this market with unrealistic expectations or misperceptions.  With that in mind, my main goal for these 45 graduate students was to provide them with a “real world” perspective on the current environment in diagnostics, and what they could truly expect in planning for successful commercialization. I wanted my students to hear from the best! So, I called in some favors and brought together a diverse group of experts to speak on a wide range of topics impacting commercialization. I am incredibly grateful to those that gave so generously of their time and knowledge.

Here is a sample of the key learning lessons our esteemed speakers taught to our students:

Randy Scott, the Executive Chairman of InVitae and former CEO of Genomic Health gave the students an overview of how both the market, and the science, have changed from the beginnings of Genomic Health through the success of Invitae.

Tara Burke, PhD, the director of public policy and advocacy at Association for Molecular Pathology (AMP) spoke about the role of specialty societies and associations, and the role that lobbying plays on behalf of their key constituents in the diagnostic market.

Cybil G. Roehrenbeck J.D., counsel with Polsinelli PC provided the students with a primer on the legal aspects and regulatory “watch outs” in the current environment.

Mitchell Burken, MD, former medical director of Novitas Medicare Solutions, and other MACs, covered the role that the Medicare contractors, and CMS, play in creating coverage and policy.

Doug Schenkel, managing director of life science and diagnostic tools at investment bank Cowen Inc. discussed the role of analysts in the diagnostic space.

Jon Darsee, one of the founding executives of iRhythm, did a unique session on the attributes of a start-up management team that create a winning culture and lead to commercialization success.

Dr. Charles Root of CodeMap, provided a primer on coding and the CPT process.

XiFin’s own Kyle Fetter, executive vice president and general manager of diagnostic services presented on the necessary requirements to appeal to investors and make successful coverage cases to payors.

As a final project, the students had to create a slide deck that they would use to present to potential investors that would demonstrate how they differentiated themselves in a competitive landscape and make a sound business case for their companies. The goal was to utilize the knowledge they had gleaned from the presenters over the course of the semester.  I was truly impressed by some of the concepts and the business cases that were submitted!

I believe that the quality of these guest lecturers is a tribute to the respect XiFin has earned in the diagnostics community. Although it is a significant commitment, I look forward to teaching this class again. As a passionate member of the diagnostics industry, I believe that at XiFin we can best support our clients by remaining an active and engaged participant in our community.

I am excited to be involved in a project that arms our future leaders of the diagnostics and laboratory industry with critical skills and knowledge to tackle a difficult job.  The intent behind the creation of the program was to recognize that diagnostics is a distinct discipline, deserving of recognition of the critical role it plays in health care, especially as we move into personalized medicine initiatives.  What a privilege to be able to play even a small role in this process!