Double down

Whatever the outcome of Obamacare, one thing is certain: Government reimbursements for medical testing will continue to drop.

Despite this fact, Fort Myers cancer-testing firm NeoGenomics is racing to develop new tests and grow its business. “It's possible to make improvements in quality while you're reducing costs,” says Douglas VanOort, the chairman and CEO of NeoGenomics. “I think we've been able to prove that.”

Consider NeoGenomics' third quarter results. The $16.9 million in revenues it posted were 18.9% better than in the same quarter in 2012. Meanwhile, the average cost of goods sold per test fell 12%, indicating significant productivity improvements.