Apr 18, 2022 | Coding, Billing, and Collections, Laboratory Management and Operations, Laboratory Resources, News From Dark Daily
Potentially increasing the revenue write-off burden for clinical laboratories, HRSA changes, insurance contracting, policy and coverage questions for genetic and genomic testing, and patient relationship disconnects will expose cracks in lab test claim generation and billing processes Last year it was estimated that collection agencies held $140 billion in unpaid medical bills, in addition to the amount of unpaid bills in pre-collection status, according to a New York Times report. More...
Jun 15, 2015 | Coding, Billing, and Collections, Laboratory Management and Operations, Laboratory Pathology, Laboratory Testing
One Arizona medical laboratory focused on collecting from patients who were overdue on amounts averaging just $40 and, in 18 months, collected $3.2 million! In today’s clinical laboratory marketplace, competency in revenue management is becoming just as important as clinical excellence. Blame it on these multi-year trends: shrinking lab budgets, Medicare price cuts, and payers excluding labs from narrow networks. At the dawn of this decade—just five years ago—few pathologists and clinical lab...
Aug 18, 2011 | Coding, Billing, and Collections, Laboratory News, Laboratory Pathology, News From Dark Daily
However, medical laboratory billing/collections is often weak, even at top-performing outreach programs If there is one bright spot in the revenue picture for many hospitals and health systems, it is how well-run hospital laboratory outreach programs produce strong growth in net revenue and contribution margin. Because of double-digit growth rates for outreach and outpatient procedures, clinical laboratory programs that target office-based physicians can produce impressive results. “In our...
Mar 31, 2009 | Coding, Billing, and Collections, Laboratory Pathology, Management & Operations
Essential action area for clinical laboratory management and pathology management With the American economy in a tailspin, payers and patients want to delay or avoid payment for laboratory testing services. That is not good news for clinical labs and pathology groups. It means their billing and collection departments must perform at an even more productive level just to stay even! At the same time, during poor economic times, “cash is King!” Clinical laboratories and pathology...
