Lab Volume Index
XIFIN analyzes its diagnostic billing data to measure laboratory testing volumes as compared to a baseline pre-Coronavirus testing average. Information is broken out by lab segment, including clinical, hospital, anatomic pathology, molecular, and pain/tox. Currently, XIFIN sees 15 - 20% of all COVID-19 and antibody testing claims nationwide, and analysis includes data representative of four out of five top integrated delivery networks (IDNs) and 10 of the top 12 public laboratories nationwide. COVID-19 testing, antibody testing, and routine laboratory testing are each broken out separately and tracked over time.
XIFIN analyzes millions of accessions/visits to provide cross-industry impacts caused by COVID-19. Sign up for email updates and we’ll send timely, data-driven insights right to your inbox.
The Lab Volume Index is a measurement of laboratory testing volumes as compared to a pre-COVID-19 testing average (“baseline”). Its synthesis of lab billing data into a measurement of testing volumes enables comparisons of routine laboratory testing, COVID-19 testing, and antibody testing both over time and across key laboratory segments: clinical, hospital, molecular, anatomic pathology, and pain/tox. Baseline volume is an average of weekly volumes generated late January through February 2020
Notes
For week ending 9/13/20, the dip reflects the Labor Day holiday-shortened week.
Beginning in mid August, we started seeing some fluctuations in volume due to shifts in client contracts and lab ramping efforts.
For week ending 6/21/20, we see a dip in COVID testing for the pain management segment. These are due to variances in submittal dates; in actuality, volume remains consistent and growing steadily, and we expect to see that reflected in next week's numbers.
Testing volume dip for week ending 5/31/20 reflects a testing slowdown likely due to the Memorial Day holiday. Routine and antibody testing activity was significantly less Monday and Tuesday that week, and although the remainder of the week saw the same steady climb in testing demonstrated in prior weeks, it was not enough to offset the holiday slowdown.
XIFIN’s leadership team regularly offers a behind-the-scenes look at diagnostic laboratory through participation in industry discussions. Discussions include state of diagnostics industry, testing volumes and trends, the expected impact of the introduction of vaccines, advent of at-home testing, and more.
