Boosting Revenue and Pathologist Income During 2017 with Creative Strategies for Pricing, Pathologist Productivity, and Market Share Growth
Webinar was held Wednesday,
January 25, 2017 at 1PM EST
Probably the single biggest challenge confronting pathology group practices today is the need to protect revenue and increase the income of individual pathologists! That’s because the Medicare program and private payers continue to whittle down the prices they pay pathologists for both technical component (TC) and professional component (PC) services.
The financial damage to the pathology profession is already easy to see. Nearly every individual pathologist in the United States knows of a pathology group in the region that, due to successive and big cuts in revenue, was forced to merge, go out of business, or convert its pathologists to employees of the local hospital.
This is why savvy pathology groups make managing revenue their number one priority. They know there are strategies that pathologists can use to expand market share to bring in more revenue, as well as to negotiate better prices with managed care companies. Accompanied by smart cost-cutting in the histology lab and professional practice, these steps can actually increase the personal income of pathologists in the group!
Increasing pathology group revenue and improving pathologist income are the key themes of an upcoming 90-minute DarkDaily.com webinar entitled “Boosting Revenue and Pathologist Income During 2017 with Creative Strategies for Pricing, Pathologist Productivity, and Market Share Growth.” This special webinar will be presented Wednesday, January 25, at 1 PM EST.
During this webinar, you’ll hear from experts in two of the nation’s most competitive markets for anatomic pathology services. From the Northeast and New England, Robert Tessier, Founder and Principal of HPB Services, will share the best strategies his pathology group clients are using to increase group revenue and optimize the income of individual pathologists.
From South Florida, Josh Yelen, Vice Chairman for Administration, Department of Pathology at University of Miami, will discuss significant changes in healthcare delivery and managed care contracting in Miami and along Florida’s East Coast. He will also share the clinical and business initiatives of his pathology group that are helping to protect and expand market share, particularly in the outreach market.
This is a must-attend session for every pathologist, practice administrator, and consultant to pathology groups. It deals with the reality of today’s tough marketplace for anatomic pathology services and delivers the knowledge you need to help your lab preserve revenue, enhance pathologist incomes, and maintain financial stability.
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There will be five primary topics discussed during the webinar, each designed to help you develop a winning strategy for your pathology group:
#1 Learn about the actual competitive market developments in the Northeast/New England. Hear why some pathology groups have failed, as well as what thriving groups are doing to remain successful.
#2 Understand the importance of pricing your group’s pathology services. It’s not just payers that want price transparency—increasingly, physicians want to know the prices of AP services because their patients have high-deductible health insurance. You’ll learn where to get accurate pathology pricing data for your region, how to set prices, and the best pricing strategies when negotiating with managed care companies. Examples of how to use this pricing data will also be provided.
#3 Hear about the changes occurring in anatomic pathology billing and collections. For many private group practices, these changes require tighter management of the outside billing service to ensure that maximum revenue is collected. Learn how to create a “billing scorecard” for your group and use it to boost net collected revenue.
#4 Pathologist productivity is now critical to the ongoing clinical and financial success of every pathology group. Findings from a recent national study of pathologist productivity will be presented, along with insights on how you can use this data to improve your group’s collective performance. This is particularly valuable information for pathology groups now deciding whether they should replace a retiring pathologist by hiring a new pathologist, or have the remaining partners pick up those additional cases.
#5 Building market share is now a requirement for any pathology group that wants to maintain its independence and remain financially viable. But it does no good to take on additional case referrals at money-losing prices. Learn the strategies that innovative pathology groups are using to win profitable new clients and expand market share.
All of this guarantees that you will get a webinar that is chock-full of essential information, designed to be immediately actionable.
And there’s more! Learn these additional secrets to success:
- Get proven strategies for setting your pathology group’s prices in ways that make it easier to negotiate favorable managed care contracts
- Learn where to find Medicare price data for other groups in your region and how to use it to set your prices at the optimal level
- Discover how to avoid the pricing pitfalls that could cost your group unnecessary drops in revenue and pathologist income
- Understand the importance of using a “billing scorecard” to monitor effectiveness of your group’s contract billing service and its ability to collect more money
- Find out what innovative pathology groups are doing to expand market share, win new clients, and produce additional revenue
- Master best practices to monitor pathologist performance that encourage improved productivity and revenue, while increasing your group’s financial stability
- Hear what pathology data and metrics payers want from pathology groups when negotiating renewals of current managed care contracts
- Plus get additional techniques to optimize your group’s revenue and the income earned by your pathologists, and much more!
Best of all, at the conclusion of the presentation, there will be a Q&A period during which you’ll be able to submit your own specific questions. This segment of the webinar represents particularly high value for pathologists and pathology practice administrators!
This unique webinar is designed to help you identify winning strategies, as well as provide you with the knowledge necessary to implement these strategies in ways that increase market share, generate more specimens, lift revenue, and boost pathologist income.
Josh Yelen, Vice Chairman for Administration, Department of Pathology, University of Miami, Miami, FL.
An MBA with a specialization in Healthcare Administration, Josh Yelen has worked in physician practice management and hospital administration, and has spent the last 10 years in academic healthcare administration with a focus in Laboratory and IT operations and finance. He currently serves as the Vice Chair for Administration in the Department of Pathology at the University of Miami School of Medicine.
Robert H. Tessier, Founder and Principal, HBP Financial Services Group, Ltd. Woodbridge, CT.
Robert Tessier earned his Master of Public Health (MPH) degree at UNC in Chapel Hill. Initially, most clients were radiology groups, including large academic medical centers such as the University of Miami. In 1982, he was retained by the Pathology Chair at Cornell/New York Hospital to establish the first private practice in NYC and was also engaged to set up fee for service at Yale Pathology. On behalf of the CT Society of Pathologists, Bob coordinated initial third party negotiations. Today, he actively manages many successful pathology groups.