CMS Prepares to Cut Medicare Fees: Smart Steps Labs and Hospital Outreach Programs Can Take to Anticipate Lost Revenue, Protect Market Share, and Sustain Physician Satisfaction
Webinar — Wednesday, December 14, 2016 at 1:00 PM EST
It’s likely that no single factor has the potential to be as financially disruptive to the clinical laboratory industry as the impending repricing of the Medicare Part B clinical laboratory fee schedule (CLFS)
Register now and learn how to effectively prepare for the negative financial impact of Medicare cuts to the CLFS, and what you need to do today to protect your lab against lost revenue and guard its market share!
Blame it on the Protecting Access to Medicare Act of 2014. One of the six sections of that law dealing with clinical laboratory matters mandates that the federal Centers for Medicare & Medicaid Services gathers lab test market price data from certain clinical labs and uses the data to establish new prices for the CLFS.
The result of that legislation is that a significant repricing of the CLFS is just 14 months away! As of Jan. 1, 2018, expectations are that CMS will institute deep cuts to the prices of the clinical lab tests which cost it the greatest amount of money. This expectation of lower prices is based on the statements CMS officials have made and reports released by CMS and the OIG; furthermore, the popular wisdom is that CMS will accept the market price data from those labs required to report, then set significantly lower prices for the 2018 CLFS based on that data. How much lower, specifically, remains to be seen, but it is with absolute certainty that these price cuts will bite deeply into the operating margins of all of the nation’s clinical laboratories.
To help laboratories and hospital outreach programs fully understand the financial impacts, as well as develop effective counter-strategies, The Dark Report has arranged a 90-minute webinar entitled “CMS Prepares to Cut Medicare Fees: Smart Steps Labs and Hospital Outreach Programs Can Take to Anticipate Lost Revenue, Protect Market Share, and Sustain Physician Satisfaction.” This special webinar will be presented Wednesday, December 14, at 1 PM EST.
Your expert faculty for this webinar will be Kathleen Murphy, Ph.D., and Jeffrey Myers, CPA. As a participant of this session on December 14, Murphy and Myers will walk you through two distinct learning modules. Module one will walk you through PAMA Market Pricing Models with real private payer lab price data analysis to indicate how CMS may score PAMA price cuts, and the resulting effects on lab pricing. The presenters will also cover strategies your laboratory should consider to improve future outcomes and mitigate margin loss.
The second module will consist of a case study from a laboratory that has already begun to model their negative financial impact, with details describing their strategies to survive a revenue loss, as well as initiatives being developed to add new revenue and margin.
Register now and get the inside scoop on all this, and much more:
- Price reform: What factors drove PAMA?
- Comparison—past and future—Medicare payment systems for lab tests
- PAMA phase-in reduction examples, their impact on Medicare spending for clinical lab services and estimated impact on providers
- Tangible data about lab tests predicted to take the biggest hit
- The impact to your laboratory and the different ways revenue decline ripples through the lab
- Strategies you can launch to mitigate margin loss
- Understanding the value of a lab outreach program, and factors in favor of considering it
- Case study from a laboratory doing profitable and innovative things with their lab outreach program
- The knowledge and tools you need to model your own action plan, and much more!
Plus, at the conclusion of the presentation, there will be a Q&A period. during which you’ll be able to submit your own specific questions to the presenters. This Q&A represents particularly high value for you and your laboratory staff!
THE DARK REPORT WEBINAR AT A GLANCE
DATE: Wednesday, December 14, 2016
TIME: 1 PM EST; 12 Noon CST; 11 AM MST; 10 AM PST
PLACE: Your computer and/or speakerphone
COST: $195 per dial-in site (unlimited attendance per site) through 12/5/16, $245 thereafter
TO ORDER DVD: Click here or call 512-264-7103
In just 8 weeks, certain clinical labs will begin reporting their PAMA lab test market price data to CMS. Those reports will set off a series of events that could trigger the single most financially-disruptive event to hit the clinical laboratory industry in the past three decades. With this must-attend webinar, you’ll learn what your laboratory needs to know now to survive, along with opportunities to help it thrive!
How to Register or Order DVD:
2. Call 512-264-7103.
Your registration includes:
- A site license to attend the webinar (invite as many people as you can fit around your conference table at no extra charge)
- A full transcript emailed to you soon after the conference
Order Now! Or for more information, call us at 512-264-7103.