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 annual survey of hospital and health system laboratory outreach programs,” a significant number of participating hospitals report very strong rates of growth in specimen volume and net collected revenue,” stated Kathleen Murphy, Ph.D., who is CEO of Chi Solutions, Inc., based in Ann Arbor, Michigan. “We are regularly surprised at how many of these better-performing hospital lab outreach programs are growing at rates of 12% to 25% per year, sustained over three to more consecutive years. (more…)
