How Your Lab Can Collect More from Patients and
Add $100,000 to $1,000,000 More in Yearly Revenue
Webinar – Thursday, June 25, 2015
Order the live webinar recording to share with your team!
Is your lab failing to collect all the money it is legally due from health
insurers and patients? Today, that’s a question that most managers
of clinical labs and pathology groups would answer with a “YES.”
Learn the actions your lab can take today with billing and collection
efforts to harvest more money from patients, in today’s era
of high-deductible health plans, HSAs, and cash-paying patients
Today, every clinical laboratory and anatomic pathology group is feeling tremendous financial pain from a new marketplace challenge: the patient who must pay most or all of the cost of their lab tests because of high-deductible health plans, big co-pay requirements, or simply because they are a cash-paying patient.
It’s a major trend in healthcare and the clinical lab industry. Yet most labs lack the necessary skills and resources to effectively collect money directly from patients. As a result, they are watching their revenues fall, as patient bad debt skyrockets!
This trend is unquestionably a huge financial 8-ball for every lab, whether small, medium, or large. An ever-growing proportion of total lab revenue must now come from the patients themselves, a situation that has caught labs flat-footed and unprepared. The proof is the soaring patient bad debt at these labs that must be written off as uncollectable because their billing and collection departments lack the knowledge, skills, and work processes needed to successfully encourage patients to pay their lab bills in full and on time.
The bottom line? To succeed in collecting more money from patients, every lab must revamp their existing billing and collection departments in very specific ways. To help you understand all the challenges associated with making these changes, and to provide you with smart solutions, The Dark Report has arranged a timely webinar titled: “How Your Lab Can Collect More from Patients and Add $100,000 to $1,000,000 More in Yearly Revenue.” This webinar will take place on Thursday, June 25, 2015 at 1 P.M. EDT and last a full 90 minutes.
Your expert presenter, David Moore, Chief Information Officer for Sonora Quest Laboratories in Tempe, AZ, will not only explain why it is important for your clinical lab or pathology group to become a “patient-centric” provider of medical laboratory testing services, but also the reasons why most existing laboratory information systems (LIS) do not currently have the capability to support patient-centric services, and the steps your organization can take to smoothly transition to a patient-centric provider of lab testing services.
And, come prepared to learn the A-to-Z of how to successfully collect much more money from patients who owe your lab! Whether small amounts, such as less than $20—or larger amounts, ranging from a few hundred to a thousand dollars or more, you’ll learn what works best when dealing with those patients who owe your lab money.
The webinar will be conducted in a unique case study format. You’ll hear how the use of an EMPI (enterprise-wide master patient index), in tandem with certain middleware solutions, can give your lab billing/collections team real-time tools to identify how much money a patient owes your lab, before they arrive in your patient service center. To that end, we’ll also include information about the different options your lab has to bring up an EMPI and integrate it into the existing billing/collections workflow.
Just a sampling of the insights and perspective you’ll gain
during this information-packed 90-minute webinar:
- Best methods to mine gold from your patient bad debt write-offs
- The importance of shifting your lab from the physician-centric LIS to the patient-centric LIS
- Effective techniques to deal with annual family deductibles that range from $5,000 to $10,000—or why you must be ready to ask for full payment at time of service
- How the EMPI (enterprise-wide master patient index) can help you collect more money—both from patients and payers
- Ways to leverage low-cost middleware and informatics solutions to quickly determine a patient’s new insurance plan or secondary coverage
- The fastest and cheapest options to get an EMPI up and running in your lab and your billing/collections department
- How to determine your lab’s ratio of incoming accessions with errors, along with automated solutions to identify and fix most of these errors
- Useful approaches to using middleware to boost productivity of your lab’s billing/collections department, resulting in more collected dollars
- Why you are missing substantial sources of revenue by failing to collect money from patients when they visit your patient service centers
- Best practices when putting revenue collection officers in PSCs to collect from patients
- How to engage middleware solutions to enable your lab to collect more dollars from patients
- Important do’s and don’ts when collecting overdue bills from patients
- Why patients expect your lab to ask for payment each time they show up to provide a specimen, and how you can maximize collected revenue at those moments
- Identifying your lab’s best allies from existing informatics vendors and leveraging their experience to collect more dollars directly from patients
THE DARK REPORT WEBINAR AT A GLANCE
DATE: Thursday, June 25, 2015
TIME: 1 PM EDT; 12 Noon CDT; 11 AM MDT; 10 AM PDT
PLACE: Your computer and/or speakerphone
COST: $195 per site (unlimited attendance per site) through 06/15/15, $245 thereafter
TO REGISTER: Click here or call 1-800-560-6363 toll-free
For one low price—just $195 (through 6/15/15; $245 thereafter), you and your entire team can take part in this informative and insightful webinar. Best of all, you’ll be able to submit your own specific questions during the Q&A session following our speaker’s prepared remarks. This is high value for you and your lab’s individual needs!
Get the authoritative advice and the practical guidance you need
with your attendance of this practical and affordable webinar
As an attendee of this important session, you will come away with two important benefits: First, you will better understand the challenges associated with making the transformation to a patient-centered lab. Second, you’ll come away with a list of invaluable action items your lab can implement right away with billing and collection efforts, to maximize the money you collect from patients, adding thousands to your lab’s yearly revenue.
Register today and gain peace of mind that you know the essentials and have all the bases covered on this crucial topic!
How to Register:
2. Call toll free: 800-560-6363.
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 downloadable PowerPoint presentation from our speakers
- A full transcript emailed to you soon after the conference
- The opportunity to connect directly with the speakers during the audience Q&A session
Register Now! Or for more information, call us toll-free at 800-560-6363.
Please be advised that no purchase orders to attend the live Event will be accepted after 11 PM EDT (“live participation cut-off”) the day before the Event. Customers may still purchase the CD recording of the Event any time after the live participation cut-off.