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IDC Makes the Case for Purpose-Built Revenue Cycle Management Solutions

In September, International Data Corporation (IDC) released a new white paper, “Making a Case for Purpose-Built RCM: How Actionable Data and Lab Visibility Benefits Health Systems.” In this paper, IDC research director, Mutaz Shegewi outlines the many reasons that a laboratory-specific revenue cycle management (RCM) system is the best choice for hospital and health system outreach laboratories.In...

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XIFIN RPM Helps Lab Outreach Business Grow Collections by 15%

Mona Dinnauer is the Laboratory Director, Outreach Services, at MercyOne Des Moines Laboratory, which is part of Des Moines Medical Center. The facility was founded in 1893 and is the longest continually operating hospital in Des Moines, Iowa, and is a member of the MercyOne network, a collaboration of CommonSpirit Health and Trinity Health.The laboratory's full-service outreach business started...

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Market Disruption is the New Normal in the Diagnostic Industry

The laboratory and diagnostics industry has experienced tremendous changes in recent years. Top of mind, of course, is PAMA. With cuts totaling up to 30% over the next three years underway, laboratories are operating in one of the most challenging environments seen to date. As had been predicted, labs have had to tighten up their operations to mitigate the lost revenues. Some labs have already...

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Business Intelligence – Why EHR Revenue Cycle Modules Aren’t Enough for Hospital Labs (Part 4)

As the final installment of this 4-part series, we’ll review the remaining two considerations for hospital and health system lab leaders when it comes to selecting the right RCM system for outreach and outpatient laboratory services. As discussed earlier in this series, too often health system leaders expect outreach laboratories to use the hospital’s enterprise revenue cycle management (RCM...

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Improving Operational & Financial Performance – Why EHR Revenue Cycle Modules Aren’t Enough for Hospital Labs (Part 3)

As discussed in Part 1 and Part 2 of this 4-part series, hospital outreach and outpatient laboratories are often asked to use the hospital’s enterprise revenue cycle management (RCM) module that is offered as part of the EMR/EHR software in an attempt to save money or accelerate the return on investment on the enterprise software system. While this may seem like a smart, economical decision, it...

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Meeting Compliance Requirements – Why EHR Revenue Cycle Modules Aren’t Enough for Hospital Labs (Part 2)

As discussed in Part 1 of this 4-part series, too often we see hospital and health system leaders expecting outreach and outpatient laboratories to use the hospital’s enterprise revenue cycle management (RCM) module that is offered as part of the EMR/EHR software. While the health system may believe that the enterprise RCM system is the most cost-effective option, this fails to take into account...

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PAMA Data Collection & Reporting – Why EHR Revenue Cycle Modules Aren’t Enough for Hospital Labs (Part 1)

Hospital and health system laboratories are under many of the same pressures as independent clinical laboratories. Compliance obligations and continued fee compression place a tremendous economic burden on many labs. While in the past, some hospital and health system leaders overlooked the economic value of the outreach lab, these leaders now recognize that outreach labs can add both strategic...

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Maximize Profitability and Define Value for Hospital Outreach Labs

At the recent ASLCLS / CLMA Iowa meeting, I was encouraged by the emphasis being put on the outreach laboratory business.  Although frequently (still) viewed as services as opposed to profit generators, there are tremendous efforts being made to change this focus and demonstrate the value of the laboratory.  Through standardization, strategic concepts, KPI’s and analytics, previously...

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