Genomind

Buyers beware... this company is losing money by the day. They just did some lay-off's last week and the longterm viability of this place is unknown. This is a privately owned company funded by a venture capital group, they are pushing them to be profitable but somehow they keep coming up short. It could be that nobody on the executive team has ever taken a small lab successfully to a purchase. Some the VP's are not even sales people and they manage a team of salespeople. This place is on borrowed time so look now and get out before the well runs dry.

 

Well said! I agree completely. The executive team needs to be fully cleaned out and replaced with people who aren’t completely clueless.

 

Is it correct that Genomind is doing testing for Medicare patients without billing Medicare? Seems unsustainable if so. If they are billing Medicare it's a matter of time before the claw backs occur.

 

Excellent company! Always pays in time and properly!!! Wait are we talking about compounding or labs... same old story...

 

Always pays and on time?? What are you smoking?? They do whatever they can to make sure they don’t have to pay what they owe. Too many moving parts, no direction, and leadership is non-existent

 

They accept Medicare samples and try to bill but don't get paid, reps don't get credit either. I think the broader issue with this company is they neglect to take care of good reps, treat sales like a red-headed step-child and are not actively looking for managed care coverage to help reimbursement and actually become profitable. This company won't be around for a long time if they don't get their act together and bring in folks that can take a lab from starter to successful. They need to get rid of the VP of sales in the West also, she has zero clue what she is doing and doesn't seem to care, never sold anything and treats her reps poorly unless you are considered a favorite. The company thinks she is doing a fine job wasting valuable resources to "hang out" with reps. The product is great but the company isn't! They will run out of money soon and hasn't seem to change their approach since they laid off a bunch of folks in June.

 

I’ve heard there is more re-org on the way from one of their reps. Myriad and maybe Quest are the only legit Lab/diagnostic companies out there worth working for. I wouldn’t waste my time with this company...

 

Labcorp & Gulfstream ain’t too bad

 

Gulfstream? The lab farm that charged $10K for UDTs and got providers to refer to them by offering them shares in said lab farms? Yeah, great lab.

 

Assurex dominates these guys

 

Yep you nailed it and the alleged HOPD deal with the OK hospital. Killer lab, but the time has ran out.... allegedly Cms shut down one of the lab farms last year....

 

Terrible post.

LabCorp
PathGroup
Sonic
Invitae
Ambry
Natera
Genomic Health
Foundation Medicine

Plenty of legit good labs to work for.

 

Never heard of these guys

 

I agree. Plenty of great labs our there to work for. Doesn't even need to be a genetics lab. Plenty of small legitimate labs out there too. Just need to look in the right states. PA, CT, NJ, OH, KY, VA, AZ & MD have tons of small labs that are worth working for.

 

Really surprised these guys are still around. Figured they’d have gone belly up years ago. Anyone know what type of company plan they offer? Worth breaking into PGx?

 

Compensation* plan

 

Don’t do it! They just laid off some folks and have no plan in place for reimbursement on current testing through insurance. The CFO is now the CEO and he hates sales people. They are focused on DTC product that sucks and the folks in management are a mess and shouldn’t be there. This is heading for an iceberg, stay off the ship or jump as quickly as you can! Money is drying up with no profitability on the horizon!

 

CFO to CEO?? Good luck keeping sales people (or anyone) when you have a finance D-bag running the show. Especially an entitled prick like T.H. Better start looking for other jobs...

 

From the look of this thread, this place is a dumpster fire