Alternative payment models and value-based payment schemes create financial unknowns for clinical laboratories and anatomic pathology groups
What happens to pathologists and clinical laboratories when fee-for-service reimbursement ceases to be the primary payment method for anatomic pathology services and medical laboratory tests?
After all, fee-for-service reimbursement for lab tests is what underpins today’s financial model for lab test services. Under this transaction-based business arrangement, a clinical laboratory that can increase its specimen volume will realize a lower average cost-per-test because of economies of scale within the lab. At the same time, the lower costs mean a bigger net margin available from profit, given the fixed price of the reimbursement for lab tests.
So what is a medical laboratory to do as healthcare shifts to a value-based reimbursement (VBR) model, formerly known as pay-for-performance? The answer to that question won’t take long to answer because of a recent announcement by the Department of Health and Human Services (HHS). (more…)
Healthcare’s coming shift from fee-for-service to value-based reimbursement creates both a crisis and an opportunity for clinical laboratories and pathology groups.
With the era of fee-for-service medicine under siege, every clinical laboratory and anatomic pathology organization needs a strategy for getting paid, as new reimbursement models that support patient-centric care will make up a larger portion of lab revenues. Unfortunately, few real-world examples exist today to guide clinical laboratory executives as they develop these strategies.
Patient-centric medical care is an important goal for every healthcare provider. Patient-centered medical homes are enjoying strong growth and acceptance. Accountable care organizations (ACOs) are designed to serve the individual needs of each patient. Meanwhile, hospitals and physicians are getting better at measuring patient satisfaction because health plans are basing payment on these scores. (more…)
Record crowd of pathologists and clinical laboratory managers hear from medical lab industry leaders
Dateline: New Orleans, Louisiana—Here at the 16th annual Executive War College (EWC) on laboratory and pathology management, a crowd of record size has gathered to learn the latest trends in the clinical laboratory testing marketplace, and to hear about innovations and new management breakthroughs, as shared by top-performing medical laboratories.
As your Dark Daily editor, this is my first EWC. Readers of Dark Daily’s ebriefings (darkdaily.com) know me from my articles on the website. I’ve learned much about clinical laboratories and anatomic pathology groups since joining The Dark Group last year. And though my editorial background includes a recent six-year stint as Editor of Health Management Technology magazine, I was nevertheless impressed by the depth of information being offered at EWC. It is why this is truly the “must attend” conference for lab managers and pathologists.
Clinical laboratories and pathology groups must be ready to support physicians’ EMR adoption
In 2011, physicians can earn federal incentives for adopting electronic medical record (EMR) systems and demonstrating “meaningful use.” Every clinical laboratory and pathology group must be ready to deal with this new development. That’s because hundreds of thousands of physicians are about to embark on EMR implementation in their practices—with or without laboratory participation.
Meaningful use was the theme of The Dark Report’s audio conference conducted last month.
Three Experts on Clinical Pathology Laboratory Informatics
Pathologists and clinical laboratory managers participating in the audio conference heard three national experts speak about how mass adoption of EMRs by the nation’s physicians would affect three specific areas of laboratory informatics. The audio conference was titled “How Meaningful Use and EMR Adoption Will Reshape Your Lab’s Competitive Future—and Its Profitability”.