Getting Paid for Lab Tests in Today’s Tough Managed Care Marketplace: Real-World Success Strategies to Increase Lab Revenue, Deliver More Value, and Achieve Higher Patient Satisfaction Scores
Webinar was held Thursday,
May 26, 2016 at 1PM EDT
Getting paid for lab tests is becoming increasingly tougher for nearly every clinical laboratory and pathology group in the United States. Not only are payers getting tougher on how they reimburse labs, but ever more frequently labs must collect significant dollars directly from patients who have large copays or deductibles.
Simply said, it has never been tougher for a lab to collect the money it is owed!
Now comes news that some innovative labs are “cracking the code” and are enjoying better collections and being paid more for test claims—while at the same time improving physician and patient satisfaction.
Your lab can do the same, but first you need to learn and master similar useful approaches when submitting claims to payers and sending bills directly to patients. That is why you’ll want to join us Thursday, May 26, 2016, at 1PM EDT for a special webinar titled, “Getting Paid for Lab Tests in Today’s Tough Managed Care Marketplace: Real-World Success Strategies to Increase Lab Revenue, Deliver More Value, and Achieve Higher Patient Satisfaction Scores.”
During this important session, you’ll hear from executives at two standout lab organizations who will share their strategies for maximizing revenue from the lab tests they perform.
Your first webinar presenter is Troy Moore, Chief Technology Officer with Kailos Genetics. Moore will discuss how, following months of uncertain reimbursement for their genetic tests, Kailos dramatically changed its business strategy and decided to completely eliminate submitting claims to payers. Instead, his company dropped its prices sharply, began to go directly to patients and physicians—and is seeing its rate of collections increase at a steady pace.
Your next presenter is Tom Schoenherr, Chief Commercial Officer with Counsyl. You’ll hear how Schoenherr’s lab company, offering proprietary molecular and genetic testing, is increasing satisfaction among patients and physicians while also increasing revenue collected from patients by 63%! Don’t miss the details of how Counsyl is successfully working with national and regional health insurers in a “payer friendly” manner.
A sampling of the insights your presenters will share with you:
- Better understand the current issues health insurers have with how labs submit claims
- Get insights on how your lab can work with payers to resolve those issues to increase test claims that are paid
- Hear how a patient-friendly pricing tool can be used to increase both lab test orders and successful payment of patient bills
- Learn how to develop a strategy and a protocol to offer molecular and genetic tests directly to consumers at price-points they find attractive
- Master current compliance policies of major insurers as they relate to lab test claims
- Successfully apply these techniques in contract negotiations with managed care companies
- Discover why every lab needs enriched informatics capabilities to deliver more value to payers, physicians, and patients
- Why lower prices for your lab’s test menu can dramatically improve collected revenue from patients and consumers
- Understand the market trends and enrollment numbers of patients who have high-deductible health plans and how to develop the right strategies to serve this market segment
It’s an established fact that payers have become tougher on accepting claims and paying the full amount billed by labs. But in addition, tens of millions of Americans are now enrolled in high-deductible health plans and thus responsible for larger copays and annual deductibles. The result: Huge numbers of labs are losing big $$$ on send-outs, particularly genetic and molecular tests.
The good news is that despite these tough financial times for the lab industry, bright spots can be found among those laboratories who have “cracked the code” by reevaluating their strategies and discovering how to effectively collect funds while staying patient- and payer-friendly.
Is it not imperative that your lab, too, have a strategy on how you will successfully collect funds from patients? That is what makes this webinar such an extraordinary opportunity for you and your lab team!
Troy Moore, Chief Technology Officer, Kailos Genetics, Inc., Huntsville, AL.
Mr. Troy Moore is Kailos Genetics’ CTO. Mr. Moore brings over 20 years of experience in the development of biotechnology companies. He was a co-founder of Open Biosystems in 2002 where he served as the Chief Technology Officer until the company was acquired by ThermoFisher Scientific in 2008. As the company’s CTO, Mr. Moore was responsible for the development of new products, technology licensing and collaborative research. Previously, he was the Director of Genomic Resources at Invitrogen following their acquisition of Research Genetics in 2000.
Tom Schoenherr, Chief Commercial Officer, Counsyl, Inc., South San Francisco, CA.
Tom’s primary focus at Counsyl is on the commercial strategy, development and execution for his organization. He is responsible for activities relating to marketing, sales, business development, health plans and customer service in order to drive business growth and market share. As a member of the Senior Management Team at Counsyl, Tom’s main concern is ensuring the integrated commercial success of the organization. Tom has over 20 years’ experience and demonstrated performance excellence in the medical diagnostics and services industry. Prior to joining Counsyl, Tom held multiple executive leadership positions with Abbott Diagnostics, Siemens Diagnostics, and Quest Diagnostics.