Clinical Pathology Laboratory Outreach Programs Are Revenue Bright Spot for Nation’s Health Systems and Hospitals

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...

Strategies to Protect the Key Assets of Clinical Laboratories and Pathology Groups

Lab-savvy lawyers tackle overlooked issues involving non-compete covenants, protection of client lists, and effective partnership agreements Unbeknownst to many owners of clinical laboratories and pathology groups, several developments have created new risks for the most important business assets of these organizations. Experts involved in legal and financial consulting for laboratories advise their clients to take definitive steps to prevent direct loss or any significant erosion in the value...

Rapid Cost Increases for Blood Products Cause Clinical Pathology Labs to Seek Solutions

Innovative hospital labs are creating collaborative project teams to help clinicians improve their utilization of blood products If there is a guaranteed budget buster for clinical pathology laboratories in the United States, it is the steady and rapid growth in the cost of blood products. Some hospital laboratories report that the basic cost of blood products has doubled in recent years! For this reason, transfusion medicine and blood banking functions are now a high-profile target for...

Performance-based Pathology Part A Agreements Are Win-Win with Hospitals

Pathologists find new Part A contract model creates added value for hospitals Now pathologists have a new approach to reverse the trend for hospitals and health systems to pay even less for Part A pathology professional services. Innovative pathologists are crafting what they call a “performance-based Part A Support” agreement that adds new value for the hospital, along with additional compensation for the pathologists. For pathologists, this is a major breakthrough in stabilizing and...

Succession Planning Omission Will Dearly Cost Many Clinical Labs and Pathology Groups

Your lab’s oldest Baby Boomer managers are turning 62 and thinking about retirement! There’s a ticking clock in your lab: the fast-approaching retirement of your best section managers, department heads, senior administrators, and pathologists! Yet there is still time for your lab or pathology group to address important succession planning opportunities. “Every day, about 8,760 Baby Boomers turn 62 and become eligible for their social security benefits,” observed Jeff Smith, Vice-President of...
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