Steady Increase in the Number of Workers with ‘Critical Illness’ Coverage Presents Clinical Laboratories and Pathology Groups with a New Challenge

Medical laboratories will have to rethink billing practices when providing services to consumers receiving lump-sum payouts from their critical illness policy

Employers continue to look for ways to control the cost of health benefits for their employees. One emerging approach that will have financial consequences for clinical laboratories and anatomic pathology groups is a newer type of insurance that provides a lump-sum payout for some critical illnesses.

Policies with this lump-sum payment feature are sometimes referred to as critical illness coverage. Such policies typically pay a lump sum if someone is diagnosed with cancer, suffers a heart attack, stroke, kidney failure, or needs an organ transplant. Some plans also provide benefits for other major medical problems, such as loss of vision, paralysis, and Alzheimer’s disease. (more…)