The Dark Report is pleased to offer this FREE White Paper, on why it is so important for labs and healthcare providers today to seriously consider moving toward a retail business model. Examined are the series of events that led to this need, including how changes in the health insurance market are now requiring patients to pay more out of pocket, and the perfect storm of bad debt and decreased requirement that is pressuring laboratories. Discussion also includes the steps that labs can take in order to move toward a retail model and thus stay competitive, increase profitability, and decrease unreimbursed care.
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. The American Hospital Association reported that U.S. hospitals had $45.9 billion in uncompensated care in 2012. In 2013, laboratory giants Quest Diagnostics and LabCorp had a combined bad debt of approximately $468 million.
This white paper speaks to the reasons why NOW is the time for laboratories and other healthcare stakeholders to shift to the retail model, and outlines the cultural and infrastructure changes that need to be implemented in order for labs, pathology groups and healthcare institutions to make the change.
Additionally, the paper presents an easily implemented technological solution for collections that will allow laboratories and other providers the necessary patient and payer information needed to collect monies owed at the point of patient contact—a solution that can make the necessary technology changes with only modest expense.
This FREE White Paper specifically addresses:
• The shift toward high-deductible health insurance policies
• Unsustainable levels of bad debt and unreimbursed care: an overview
• A look at downward pressure on laboratory and healthcare reimbursement
• Cultural and infrastructure challenges to collecting fees directly from patients
• The need to move toward a retail business model for healthcare
• A technology solution for easing patient collections
• Call-to-action for implementing new payment strategies
Table of Contents
What’s Changing in Health Insurance that Requires Patients to Pay More Out of Pocket?
Healthcare Pressured By Bad Debt and Decreased Reimbursement
Why Clinical Labs and Pathology Groups are Unprepared to Collect Directly from Patients
Increasing Collections and Reducing Bad Debt by Moving to a Retail Model
Why Laboratories Need to Implement New Payment Strategies Now
For a better understanding of this important topic, and for a clear and comprehensive explanation on how to improve your lab’s collections—leading to enhanced profitability and decreased unreimbursed care—download your FREE copy of “Collecting More Dollars From Patients: Why It’s Time For Clinical Labs and Pathology Groups to Move To The Retail Model.”