Because of Sizeable Deductibles, More Patients Owe More Money to Clinical Pathology Laboratories, Spurring Labs to Get Smarter about Collecting from Patients

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...
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