Fines, decreased reimbursements, and more frequent payer audits await those clinical labs and pathology groups not prepared for tougher legal and regulatory changes starting January 1, 2018
AUSTIN, Texas (November 2, 2017)—The list of regulatory, compliance, and managed care threats that must be addressed by clinical labs and pathology group practices in 2018 is lengthy. Each comes with the potential of government sanctions, exclusion from provider networks, large recoupment demands, and greater risk for individual liability of lab directors and lab managers that can include jail time, sizeable fines, and exclusion from federal health programs.
What Does FDA Approval of a Digital Pathology System for Use in Primary Diagnosis Mean for the Pathology Industry? New Dark Daily Webinar to Provide Answers and Insights for Pathologists and Pathology Practice Administrators
AUSTIN, Texas (July 28, 2017)—Experts agree that the FDA’s long-awaited clearance earlier this year of a Digital Pathology system for use in primary diagnosis is the trigger event for a wave of clinical, operational, financial, and professional transformation. This decision has confronted every pathologist and pathology practice administrator with a fundamental question that comes with high stakes: how quickly will digital pathology systems and whole slide imaging come to their group practice or medical laboratory?
Attention CFOs of Clinical Lab Companies, Hospitals, and Health Systems: Coming Soon is New FASB Requirement for Recognizing Revenue from Contracts
AUSTIN, Texas (May 23, 2017): Big changes are coming for chief financial officers at laboratory companies, hospitals, and health systems that report financial performance using GAAP. CFOs at these organizations will soon be required to comply with the new FASB Rule 606–Revenue Recognition Standard. That means all contracts, including managed care contracts and patient self-pay arrangements, must be reported in a different manner.
New and powerful trend in the laboratory industry contributes to increased lab revenue and supports clinicians for better clinical outcomes
AUSTIN, Texas (April 5, 2017) It is now possible for medical laboratories to increase their revenues specifically because their labs are helping physicians achieve better patient outcomes. This is welcome news, particularly if a lab is seeking ways to offset price cuts and shrinking budgets.
Ongoing change in the healthcare industry has resulted in an overwhelming need for clinical laboratories and pathology groups to do more with less, while finding new ways to grow
AUSTIN, Texas (March 8, 2017) – The year 2016 was one of continuing change for the healthcare industry. The result has been more pressure than ever in 2017 to meet the demands of informed consumers, while balancing new regulations. For clinical laboratories and anatomic pathology groups, these myriad changes have also resulted in a pressing need to achieve more with fewer resources, and at the same time finding ways to grow.
Ever more physicians are including elements of precision medicine in their practice, making it imperative that every clinical laboratory and pathology group have a strategy for how it will serve precision medicine
AUSTIN, Texas (March 7, 2017) Tests in support of precision medicine will be the fastest-growing sector of laboratory medicine for years to come. Physician demand for these tests is robust and will continue to increase for a powerful reason: patients want the benefits from a test that delivers a more accurate diagnosis, while pointing the doctor to the right therapy that will benefit the patient while minimizing side effects.
Medical Laboratories and Pathology Groups face greater risks when cutting costs to balance budgets; one solution is to identify and correct recurring sources of bad quality in clinical lab testing
AUSTIN, Texas (February 16, 2017) Cost-cutting is a priority activity at every clinical laboratory and anatomic pathology practice across the United States, as hospitals continue to decrease lab budgets and payers relentlessly pay less money for lab tests.
All-new webinar featuring Jane Pine Wood and Richard Cooper to share expertise with clinical lab and pathology groups on actions to take now in preparation for 2017’s tougher lab regulations and new legal issues
AUSTIN, Texas (October 5, 2016) Tougher challenges are coming to all labs in 2017, with the new year bringing significant changes to lab test reimbursement, lab compliance, and managed care contracting. Most of these challenges all boil down to one thing: tougher actions by government and private payers which are expected to have negative financial consequences for the nation’s medical laboratories and pathology groups.
Clock is ticking down on the nation’s medical laboratories, as they struggle to comply with the PAMA Final Rule and reporting of Lab Test Market Price Data to Medicare, beginning in just 100 days
AUSTIN, Texas (September 20, 2016) Reporting of Lab Test Market Price Data to Medicare officials starts in about 100 days and the news is not good. Across the nation, clinical laboratories and their experts admit that they are struggling to comply with the final PAMA rule. And this is just the larger labs.
Most Pathologists Unware of New Federal MACRA Law Accelerating Medicare’s Transition Away from Fee-for-Service Payment: Upcoming Webinar to Prepare Pathologists for MIPS and New Medicare Payment Models
AUSTIN, Texas (August 22, 2016) Consulting company Deloitte says that most doctors are unaware of a new federal law poised to make major changes in how physicians—including pathologists—are paid for Medicare physician professional services. The first sections of MACRA become effective on January 1, 2017. That leaves just 120 days for pathologists and their practice administrators to learn about the law, develop strategies to comply, and prepare to be paid differently by the Medicare Program.
Research demonstrating the clinical utility and associated health economics benefits of PgX grows, resulting in tremendous new opportunities for clinical laboratories and pathology groups
AUSTIN, Texas (August 1, 2016) – Increased understanding of the genetic basis of an individual’s response to drugs, including how and how quickly a drug is metabolized (pharmacodynamics and pharmacokinetics), has opened the door to a more personalized approach to drug prescription. By identifying drugs most likely to benefit a patient, assessing the likely dose response, potentially avoiding adverse reactions, and reducing unnecessary use of drugs, pharmacogenomics testing (PgX) is helping to optimize treatment and reduce costs associated with complications or inappropriate utilization.
New webinar to share real-world success strategies with clinical laboratories and pathology groups on how to get paid for lab tests in today’s tough managed care marketplace
AUSTIN, Texas (May 19, 2016) — Getting paid for lab tests is becoming increasingly tougher for nearly every clinical laboratory and pathology group in the United States. Not only are payers getting tougher on how they reimburse labs, but ever more frequently labs must collect significant dollars directly from patients who have large copays or deductibles.