Agreement to acquire East Side Clinical Laboratory is a reminder that Sonic remains an active buyer of clinical laboratories
It’s another clinical lab acquisition and a new regional market for Sonic Healthcare Limited (ASX:SHL). Yesterday the Australian-based lab company established a beachhead in New England when it acquired East Side Clinical Laboratory, based in Providence, Rhode Island.
Management Tool Contributes to More Collected Revenue, Higher Sales Prices
Revenue Cycle Management (RCM) is hitting the radar screen at the nation’s best-managed clinical laboratories. That’s because shrinking reimbursement makes it imperative for clinical labs and pathology groups to collect every dollar legally due for the lab testing services they provide. RCM is a proven management tool for reducing unpaid claims and unlocking more productivity in the coding/billing/collections process.
“Revenue Cycle Management for laboratories encompasses all the administrative and management functions that contribute to the capture, and collection of revenue associated with lab testing services,” observed Lale White, CEO of Xifin, Inc. of San Diego, California. White has been an acknowledged national expert in laboratory coding, billing, and collections for more than two decades.