Jul 21, 2015 | Coding, Billing, and Collections, Compliance, Legal, and Malpractice, Laboratory News, Laboratory Operations, Laboratory Pathology, Management & Operations, Uncategorized
In response to healthcare’s transformation, a pathologist and a lab CEO describe two powerful ways that medical laboratories can collaborate with physicians, patients, health systems, and health insurers to deliver more value
DATELINE: Phoenix, Arizona—It may be appropriate that, with the pace of change heating up in both healthcare and the clinical laboratory industry, it was here in the hot Sonoran Desert that more than 500 medical laboratory professionals gathered last week for the annual Sunquest User Group Conference (SUG) hosted by Sunquest Information Systems. (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 executives would have predicted that the financial survival of their lab organizations would depend upon becoming more proficient and more sophisticated with billing and collections. Yet this is now a necessary response to the year-over-year decline in lab prices and revenue experienced since 2010. (more…)
May 6, 2015 | Coding, Billing, and Collections, Compliance, Legal, and Malpractice, Digital Pathology, Instruments & Equipment, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Laboratory Sales and Marketing, Managed Care Contracts & Payer Reimbursement, Management & Operations, News From Dark Daily
Primary themes were healthcare’s transition away from fee-for-service and how innovative medical laboratories are delivering more value with lab testing services
NEW ORLEANS, LA.—Two clear themes for clinical labs and pathology groups emerged from yesterday’s opening presentations at the 20th annual gathering of the Executive War College on Laboratory and Pathology Management.
Transitioning from Fee-For-Service to Value-based Reimbursement Programs
Theme one is that the pace of transformation within the U.S. healthcare system is accelerating. In his opening remarks, Executive War College Founder Robert L. Michel warned medical laboratory professionals that they must not allow their lab organizations to be unprepared or unresponsive to the changes now unfolding across the nation’s healthcare system.
In particular, Michel reminded the more than 850 lab executives and pathologists in the audience that fee-for-service payment for clinical laboratory tests and anatomic pathology services will not remain the dominant form of reimbursement for much longer. “This market trend is aptly described as ‘volume to value,’” noted Michel. “For decades, labs maximized revenue and operating profits by maximizing the volume of specimens that they tested. Those days are coming to an end. Healthcare will increasingly want lab testing services to be high value. These lab services will be paid as part of a bundle, or included in the different forms of global payments and budgeted payments that are made to integrated care delivery organizations, such as ACOs and patient-centered medical homes.” (more…)
Mar 16, 2015 | Compliance, Legal, and Malpractice, Laboratory Hiring & Human Resources, Laboratory Instruments & Laboratory Equipment, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Laboratory Sales and Marketing, Managed Care Contracts & Payer Reimbursement, Management & Operations, News From Dark Daily
On May 5-6 in New Orleans, leadership will be a major theme when “the U.S. Army War College meets the Executive War College on Lab and Pathology Management” in a special workshop for executive leaders of labs and pathology groups
Some would argue that leadership in medical laboratories today has something in common with the opening line of a famous 19th century novel.
“It was the best of times, it was the worst of times,” is the first sentence in “A Tale of Two Cities,” Charles Dickens’ famous novel. Many pathologists and clinical laboratory managers would agree that this sentence accurately describes today’s marketplace for medical laboratory testing. (more…)
Aug 4, 2014 | Compliance, Legal, and Malpractice, Laboratory Hiring & Human Resources, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Management & Operations
To help medical laboratories understand how to deliver patient-centric lab testing services, the Clinical Laboratory Management Association (CLMA) has launched its “Increasing Clinical Effectiveness” (ICE) program. CLMA President Paul Epner (pictured above) will be conducting a free webinar about the ICE program on August 12 and the details of ICE and the webinar can be found at the CLMA website. (Photo copyright CLMA.)
Increasing Clinical Effectiveness’ is the name of new initiative that CLMA is making available to all medical laboratories and anatomic pathology groups
There is now little disagreement that the U.S. healthcare system is in the midst of a transformation away from reactive and acute care and to proactive, integrated clinical care. This is why clinical laboratories and anatomic pathology groups across the nation now find themselves at a critical crossroads.
This trend presents medical laboratory managers, pathologists, and clinical chemists who lead the nation’s labs with an important question: When is it time to shift the lab’s focus away from its traditional “lab-centric” emphasis and position the lab as a “patient-centric” clinical service?
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