Vitals Study Shows Consumers Using Cost Transparency Tools Select Clinical Laboratories with Low Test Prices

Researchers find shopping for medical laboratory tests increased by nearly 50%, and people are saving more than a million dollars annually by shopping for blood tests Each year, more consumers use online healthcare price-shopping tools to find hospitals, physicians, and clinical laboratories that have the lowest prices. And medical laboratory tests is among the top services on their lists! Researchers at Vitals of Lyndhurst, NJ, a company that publishes online physician ratings, analyzed how...

Higher Annual Deductibles and Co-Payments Cause Hospitals to Intensify Efforts to Collect Directly from Patients; Medical Laboratories Now Feel Similar Financial Squeeze

Hospitals and physicians are acting quickly to improve their ability to collect directly from patients as vendors enter market with new collection tools; clinical labs are slower to respond to this fast-moving trend Collecting deductibles from patients and tackling growing bad debt is quickly becoming a priority at hospitals and health systems around the nation. Clinical laboratories and pathology groups face the same need to become better at collecting money directly from patients at time of...

Hospitals Report Growing Levels of Bad Debt as Many Patients with High-Deductible Plans Are Unable to Pay Their Medical Bills

Pathology groups and clinical laboratories should be taking steps to collect from patients at the point of care, as a key strategy to minimize patient bad debt Here’s some bad news for hospital Chief Financial Officers (CFOs) and an early warning for clinical laboratory administrators. A rising number of patients with high deductible health plans (HDHPs) are unable to pay their medical bills. Enrollment in HDHPs has soared in recent years because more employers and health insurers have adopted...

More Transparency for Provider Prices and Quality Is Goal of Employers and Private Payers During 2013

Clinical laboratories and pathology groups will soon find it important to make it easier for patients to price for medical laboratory tests Value-based reimbursement is the new frontier for the American healthcare system. Surveys show that employers and insurers are actively pushing the healthcare marketplace to a value-based, competitive paradigm. This means providers—including pathology groups and clinical laboratories—will be asked to deliver greater transparency in both the price and...
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