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Part 3: Analytics for the Lab Director

This is the third installment of a four-part series. View Part One or Part 2 (Analytics for the RCM Team). Hospital financials have partially rebounded from a difficult start in 2022, but operating margins remained at a loss in March, for the third consecutive month. Meanwhile, hospitals continue to focus on improving the patient experience. Laboratory outreach and outpatient operations can...

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Understand the Black Book Research Criteria to Choose the Right Outsourced RCM Services Provider

This blog is part of a series. Read Part 1. As our second blog in this series about the benefits of using Black Book Research’s comprehensive set of assessment criteria to evaluate outsourced revenue cycle management (RCM) service providers, we focus on the measures associated with Security, Compliance, and Trust.Black Book Research evaluated outsourced diagnostic/laboratory RCM services vendors...

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Part 2: Analytics for the RCM Team

This blog post is the second installment of a four-part series. View Part One Profitability and patient satisfaction targets remain elusive for hospitals in 2022, but laboratory outreach and outpatient operations can contribute to these larger organizational goals with the appropriate people, processes, and technologies in place. This second installment of our “How to Calibrate Hospital Lab...

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How to Calibrate Hospital Lab Financial Performance, Part 1

Hospitals face fundamental challenges relative to financial targets and patient experience goals. When prioritizing and evaluating lab financial performance, it is fitting to consider tactical revenue cycle management (RCM) decisions in the broader context of these strategic financial and operational hurdles.Historically, the lab has often been seen as a cost center, solely focused on supporting...

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Three Questions You Should Be Asking to Determine if the No Surprises Act Applies to You

How do the billing protections established under the No Surprises Act impact my group?This is what everyone is asking. It’s a very complex question that isn’t answered with a simple yes or no. However, listed below are three questions you should ask to determine if any of your services are impacted by the No Surprise Act legislation.*  Is the...

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No Surprises Act: Your Top Questions Answered - Part 2

This blog is part two of a blog series focusing on answering the most common questions regarding the No Surprises Act. View Part One, which focused on questions related to providing a good faith estimate and obtaining patient consent.The No Surprises Act (NSA) — which provides patient protections by addressing surprise billing and banning balance billing — has many people wondering which parts of...

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No Surprises Act: Your Top Questions Answered - Part 1

The No Surprises Act (NSA), which went into effect on January 1, has many providers scrambling. The No Surprises Act provided protections for patients who unknowingly receive care from an out-of-network provider by addressing surprise billing and banning balance billing. Implementing the requirements of the No Surprises Act will require a new level of coordination between providers, payors, and...

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Omicron Variant: Latest Impact on Lab Testing Volumes

The impact of the SARS-CoV-2 Omicron variant appears to have peaked in most parts of the nation. While the Centers for Disease Control (CDC) has determined this variant spreads more easily than the original virus that causes COVID-19 and the Delta variant, it generally causes less severe disease than infection with prior variants.  At the beginning of February, it appears the peak of new COVID-19...

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