News, Analysis, Trends, Management Innovations for
Clinical Laboratories and Pathology Groups

Hosted by Robert Michel

News, Analysis, Trends, Management Innovations for
Clinical Laboratories and Pathology Groups

Hosted by Robert Michel
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First-ever Gathering of Lab CFOs, Controllers to take place on April 28-29, 2009

News that the number of hospital jobs in the United States fell for the first time since June 2004 reveals several useful insights for clinical laboratory managers and pathologists. The U.S. Bureau of Labor Statistics reported that, for March 2008, the number of hospital jobs declined by 700, against a total hospital workforce of 4.71 million.

This small decline-less than one-tenth of one percent-demonstrates that demand for hospital services continues to be relatively resistant to economic declines. However, other Labor Bureau statistics highlight a darker picture for the long-term fortunes of hospitals. The entire healthcare sector picked up a net increase of 16,500 jobs, with most of this coming from the ambulatory services sector. For example, physicians’ offices added a net of 3,200 workers. By contrast, the overall U.S. economy shed 663,000 jobs in March, with the national unemployment rate ending the month at 8.5%.

As reflected in these numbers for March, hospital employment declined by a tick while overall employment in healthcare increased in spite of the economic recession. This illustrates two fundamental trends in healthcare. First, demand for health services during this recession remains robust enough that hospitals continue to need almost all their workers. Second, growth in outpatient demand for services continues to outstrip growth in demand for inpatient services.

To understand the implications of these trends on clinical laboratories and pathology laboratories, the first-ever national gathering of laboratory CFOs (chief financial officers), controllers, and financial experts is taking place in New Orleans on April 28-29, 2009 at the Executive War College on Laboratory and Pathology Management. This unique session will be led by Kurt Rogers, CFO of Pathology Associates Medical Laboratories (PAML) of Spokane, Washington. Access the full agenda with this agenda link.

By design, this gathering will be interactive, loaded with peer-to-peer interaction. It provides a rare opportunity for a cross section of clinical laboratory and pathology group CFOs, controllers, and other financial experts to come together to discuss common problems, share solutions, and learn the most effective financial strategies during this economic recession. Among the topics to be addressed are:

  • Outreach Program Performance: net revenue calculation, asset utilization, profit measurement, financial reporting.
  • Outreach Program Expansion: market availability, internal growth, profit development, partnering, IT capability, investment and profit returns.
  • Revenue Cycle: UB04 vs. HCFA1500 billing, payer negotiations and contracting, demographic/ICD9/ABN capture, pricing, error processing, maximizing A/R collections, overall billing process.
  • Payable Cycle: cost accounting/allocation, expense capture/allocation, benchmarking/expectation, vendor negotiation, talent/staffing requirements, capital planning/alternatives, in-sourcing testing.
  • New Business Development: evaluation of all payers and customers for profitability, benchmark utilization, cost vs. reimbursement, executive/administrator buy-in, marketing skills.

This unprecedented national assembly of CFOs, controllers, and financial experts from clinical laboratories and pathology groups is open to qualified individuals. Your lab’s financial guru should make plans to participate and you can call their attention to this opportunity be simply forwarding this e-mail to him or her. Visit this easy registration and agenda link to guarantee your place at this vital event!

Related Information:

Late News: Hospitals post decline in jobs for first time since ’04

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