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Hello everyone welcome to today's live broadcast proposed rule for the Medicare clinical diagnostic laboratory test payment system I am Judy O'Rourke of lab roots and I'll be your moderator for today's event we are delighted to bring you this educational web seminar presented by labyrinth for more information please visit lab roots com we have a few important announcements before we begin this webcast is designed to be interactive and we encourage you to ask questions during the event you can submit questions by typing them in the Q&A box which can be found by clicking on the green Q&A button at the lower left of the presentation window we'll try to answer as many questions as we can you can enlarge the slide window by clicking on the screen icon in a lower right hand corner of the slide window if you have any technical problems viewing or hearing this presentation please click on the support button at the top right of your presentation window or submit your problem through the green Q&A button lower left I would now like to introduce today's speaker Jerry stringham president of medical technology partners he has worked as a reimbursement strategy consultant since the 1980s when we began providing reimbursement consulting to diverse device diagnostic and pharmaceutical companies Jerry holds a BS in mechanical engineering from the Massachusetts Institute of Technology and an MBA from Harvard Business School he has been part of five medical device startup organizations operating out of New England and has grown m tpem tepees client list over 150 clients Jerry founded medical technology partners in 1998 to fill the growing need for business oriented reimbursement consulting his experience in industry including as a principal in the health economics practice of a major CRO brings expertise to new technology reimbursement challenges I will now turn it over to Jerry for his presentation hello everybody thank you for joining me today and hearing about the perspectives on changing reimbursement in the laboratory system I've been part of the healthcare reimbursement system since the 1980s and right now we're facing one of the seminal moments for payment for laboratory developed tests if you're a company who makes hospital inpatient products 1983 was the change when drgs came into play in 1998 the hospital outpatient system went from being a cost based system to a prospective payment system in 1993 physician services went from being usual and customary charges to a system based on relative value units or right now this law this change is the beginning of a massive change in the way that diagnostic tests are going to be paid for and you have an opportunity to participate in it and you certainly would want to know how your tests or how your companies would be taken effect so that's what we're here about is to share of this information so what is the presentation about it's about the proposed rule for the Medicare clinical diagnostic laboratory.