Lab Volume Index
XIFIN analyzed its vast stores of data, representative of four out of five top integrated delivery networks (IDNs) and seven out of the top ten independent laboratories nationwide, to craft the Lab Volume Index. Currently, XIFIN sees 15 - 20% of all COVID-19 and antibody testing claims nationwide. The Lab Volume Index synthesizes billing volume data into a measurement of testing volumes as compared to a pre-Coronavirus testing average ("baseline"). COVID-19 testing, antibody testing, and routine testing are each broken out separately.
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The Lab Volume Index measures billing volume data against a baseline volume, expressed as a percent of baseline. Baseline volume is an average of weekly volumes generated late January through February 2020, and represents current year pre-Coronavirus testing volumes.
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.
