Achieving Financial Success with Hospital Laboratory Outreach: Six Proven Ways to Boost Net Revenue
How to dramatically increase clean claim submissions and reduce bad debt
LIVE Recordings Now Available!
Survey after survey says that a consistent weakness of hospital laboratory outreach programs is a billing and collections department that leaves big money on the table.
In fact, one major survey shows a full 72% of lab outreach programs admitted having serious collection problems that result in low net revenue, high bad debt, and internal inefficiencies. If this describes your laboratory outreach program, here’s some good news for you.
You can measurably improve the performance of your lab’s billing and collections team, which in turn can directly increase net collected revenue while boosting your lab’s cash flow and operating margins.
There are simple and highly effective strategies your laboratory outreach billing and collections department can quickly implement to:
- Produce more clean claims that are paid on first submission.
- Collect surprisingly large amounts of bad debt.
- Generate substantial increases in net revenue and cash flow.
You know what increased revenue and cash flow could mean to both your laboratory outreach program and your parent hospital: It lets you offset years of declining inpatient testing and reduced reimbursement for many lab tests. More important, it helps ensure the financial sustainability of your laboratory outreach program.
The cornerstone of financial success is an effective billing and collections system. But do you know what a good system should include? And what should it not include? And are you up to date on the newest and best possible billing and collections procedures for your outreach program?
Get answers to these questions and more when you register to attend the latest Dark Report and DarkDaily.com audio conference “Achieving Financial Success with Hospital Laboratory Outreach: Six Proven Ways to Boost Net Revenue” on Wednesday, August 24, 2011. Listen as two experts detail key concerns in laboratory outreach billing and offer strategies for creating an effective system for your lab.
In this information-packed 90 minutes, you’ll get sound advice on how to improve your lab’s collections procedures from the following two experts:
First up is Kathleen Murphy, PhD, CEO of Chi Solutions. She’ll help you better understand why your lab may be having trouble collecting its outreach revenue-and what you can do about it. You’ll learn how to identify and avoid possible weaknesses in your billing processes. At the end of this session, you’ll come away with several possible collection strategies and how to prioritize them so your lab gets the most “bang for its buck.”
Our second speaker, Larry Siedlick, is CEO at The ARx Group. He’ll provide details on the techniques your lab can use to improve the financial success of its outreach programs. Laboratory leaders at all levels will come away with a better understanding of billing best practices and how these could translate into better financial results for your lab.
Register today and get the most up-to-date information on how to develop billing processes that will improve collections and generate increased revenue and profitability for your lab’s outreach program.
And don’t forget: You can have everyone on your lab team participate with you. For just one registration, you can all listen, learn, and get personalized answers to questions about your lab’s unique needs. Register now to guarantee your participation.
THE DARK REPORT AUDIO CONFERENCE AT A GLANCE
For one low price-just $245- you and your entire team can take part in this fast-paced, insightful audio conference. Best of all, you’ll be able to connect personally with our speakers when you hear the Q&A. Hear what other labs asked in the LIVE event.
Here’s just some of what you’ll learn during this in-depth 90-minute audio conference:
- Strategies and tactics for addressing common weak spots in lab outreach billing operations.
- How to determine what a bad outreach program could be costing your lab-and how to turn things around.
- Improving your validation processes and the best strategies for following up on denied or unbilled claims.
- Common reasons for poor collections and how to fix them.
- How to improve your lab’s collections processes.
- The competencies necessary to create an effective billing process.
…and much more!
How to Order Now:
2. Call toll free: 800-560-6363.
Your audio conference order includes:
- A site license to attend the conference (invite as many people as you can fit around your speakerphone at no extra charge)
- A downloadable PowerPoint presentations from our speaker
- A full transcript emailed to you soon after the conference
- The opportunity to connect directly with the speaker during the audience Q&A session
Order Now! Or for more information, call us toll-free at 800-560-6363
ACCENT® Continuing Education Credit
The American Association of Clinical Chemistry (AACC) designates this program for a maximum of 1.5 ACCENT® credit hours towards the AACC Clinical Chemist’s Recognition Award. AACC is an approved provider of continuing education for clinical laboratory scientists in the states of California, Florida, Louisiana, Montana, Nevada, North Dakota, Rhode Island, and West Virginia.