LabFinder Helps Connects Patients and Laboratories

A New York City physician has started up a business that aims to be a price and services clearinghouse and records depository for patients wishing to choose specific laboratories.

Robert Segal, M.D., is a cardiologist rather than a pathologist. But he said he founded LabFinder because of the ongoing stream of complaints he received from his insured patients about charges from out-of-network labs they thought their insurance carrier covered.

“We want to make the jobs of patients easier, and complement individual laboratories and their patient portals,” Segal said. He added that the ultimate goal is closer interworking relationships among patients, labs, physicians and insurers, which he noted are often siloed. LabFinder has about $5 million in financial backing from private investors. LabFinder’s website allows patients to order tests at labs that are within their insurers’ network. It has about 95 tests on its menu—mostly basic urine or blood tests and panels—or allows patients to use their physician scrip to order. Each test request is then synced to the networks of about 100 different insurers or third-party administrators to determine which lab is covered for that patient. For patients without insurance or willing to pay out of pocket, they can order tests with a specific price attached, typically in the low to mid two figures for a urinalysis or blood test.

Once the results are available, patients can view them through a portal. The data is also easily shareable to other providers who need access to the test results.

(Excerpted from the June 16, 2016 issue of Laboratory Industry Report).