Sep 13, 2014 | Coding, Billing, and Collections, Compliance, Legal, and Malpractice, Digital Pathology, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Managed Care Contracts & Payer Reimbursement, Management & Operations
Recent White Papers detail solutions for implementing new payment strategies for medical laboratories and pathology groups
Clinical diagnostic laboratories, pathology groups and healthcare institutions are carrying significant and potentially unsustainable levels of unreimbursed services. Although bad debt and uncompensated care in the healthcare industry are not new, they have been increasing at the same time that downward pressure is being applied to reimbursement.
Medical laboratories and pathology groups are also facing enormous levels of change in their clinical, regulatory and financial environments. As the Affordable Care Act is implemented, laboratories see downward pressure on reimbursement at both the federal and payer level, coupled with increased emphasis on efficiency and quality.
(more…)
Jul 28, 2014 | Coding, Billing, and Collections, Laboratory Management and Operations, Laboratory News, Laboratory Pathology, Management & Operations
Medical laboratories can increase revenue and reduce bad debt by using technology to verify patient ID and insurance information before a specimen is provided
Due to a need to collect payment directly from the growing number of patients with high-deductible health plans, many clinical laboratories and anatomic pathology groups are experiencing flat or even declining cash flow. This issue has medical lab CFOs scrambling to find solutions.
Moreover, this problem is noticeably greater in 2014 than it was in 2013. One factor behind this worrisome trend is the Affordable Care Act (ACA). As of January 1, most newly insured patients enrolled under ACA have high-deductible health plans (HDHPs) that require substantial copayments when patients receive healthcare services. Employers are also increasingly shifting their employees to HDHPs, as well.
(more…)
Jun 2, 2014 | Digital Pathology, Instruments & Equipment, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Management & Operations
Real-time data feeds give managers a view on turnaround time, physician ordering patterns, staffing levels, workload, specimen quality, and instrument performance
Financial pressures are intensifying at the nation’s clinical laboratories. This is particularly true of the labs serving hospitals and health systems. Declining inpatient volume and less revenue per inpatient admission are reasons why hospital lab budgets are shrinking.
These trends mean clinical lab administrators and pathologists are being asked to do more with less. To meet this challenge, many lab organizations are acquiring real-time analysis tools and management dashboard systems to help managers identify opportunities to slash lab expenses, while boosting productivity and client satisfaction. (more…)
Dec 9, 2013 | Coding, Billing, and Collections, Laboratory Hiring & Human Resources, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Management & Operations
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…)
Oct 21, 2013 | Coding, Billing, and Collections, Instruments & Equipment, Laboratory Instruments & Laboratory Equipment, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Laboratory Sales and Marketing, Management & Operations
Tracking specimen collections online is a significant benefit because clinical laboratories can track specimens in real time from pick-up to arrival in the laboratory
At a time when delivering added value to physician clients is a key differentiator for any clinical laboratory wanting to build market share and increase specimen volume, having the right courier and logistics solution can mean the difference between financial success and failure.
Experienced pathologists and medical laboratory managers know why. Every day, the lab courier who shows up at the client’s office is often the primary personal contact between that physician’s office and the lab. Problems with a lab’s courier services are an all-too-common reason why a client switches to a competing laboratory. (more…)
