Feb 11, 2009 | Coding, Billing, and Collections, Laboratory Pathology
Pathologists and lab directors concerned about training staff to implement the new ICD-10 code sets can relax-but only just a bit! The federal Department of Health & Human Services (DHHS) has pushed back the compliance deadline for implementing the International Classification of Diseases, 10th Revision (ICD-10) code sets. The new implementation deadline of October 1, 2013; replaces the existing deadline of October 1, 2011. As it announced this extension in implementation of ICD-10 on...
Oct 28, 2008 | Laboratory Management and Operations, Laboratory Pathology
Federal officials underestimated the costs and time needed to implement the complex new codes for ICD-10, according to a new study released last week on October 14. As a result, laboratories and physician groups can expect to incur significantly higher costs to convert from the current International Classification of Diseases, Ninth Revision (ICD-9), to ICD-10. The report by Nachimson Advisors, LLC, estimated that every provider will incur conversion costs in at least six ways. The report...
Aug 15, 2008 | Laboratory News, Laboratory Pathology
Reluctance of small and mid-sized physician practices to invest in electronic medical record (EMR) systems has been oft noted by Dark Daily. Now, Medicare is hoping to motivate these physician groups to adopt electronic health records (EHRs) with a new incentive program. In an effort to jump-start physician adoption of EHR systems, the Centers for Medicare and Medicaid launched a five-year demonstration that offers small and mid-size physicians offices the opportunity to earn bonuses and...
Jul 2, 2008 | Laboratory News, Laboratory Pathology
Public input will now be a part of physician evaluations overseen by the American Board of Medical Specialties (ABMS), the not-for-profit organization that oversees physician certification in the United States through its 24 Member Boards. In May, ABMS announced that it will incorporate public input into its physician evaluations. It is another step on the road to increased transparency for provider performance and a bigger role for patient and consumer input on the quality of healthcare...
Jun 30, 2008 | Laboratory News, Laboratory Pathology
Earlier today, Sonic Healthcare, Ltd. of Sydney, Australia, announced the acquisition of Clinical Laboratories of Hawaii LLC (CLH), based outside Honolulu in Ewa Beach, Hawaii. Sonic disclosed that it will pay approximately US$121 million for CLH, which has annual revenues of about $110 million. According to Sonic, the purchase price represents a multiple of prospective EBITDA (earnings before interest, taxes, depreciation, and amortization) of 6.2. Both parties expect the acquisition to close...
