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Blog Posts by Tag: Hospital

Proving Your Lab’s Value and Embracing Lab 2.0

Lab 2.0 is a growing ideology in the laboratory industry that can best be defined as an effort to use diagnostics to help improve quality and outcomes while reducing cost. This means breaking away from laboratory norms and focusing more on innovation.The Lab 2.0 initiative is proving that with the proper use of diagnostics data, labs can not only change the healthcare cost curve, but they can...

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Hottest Blog Topics of 2019

In 2019 we discussed many thought-provoking topics and trends regarding laboratories, medical billing, revenue cycle management, and much more. Here is a short recap of the top 5 most-influential blog posts:1. Hidden Landmines in Revenue Cycle Management: Industry Challenges, Patient Engagement, and Denial TrendsMany trends in payor behaviors and reimbursement go unnoticed due to outdated RCM...

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Congress Passes LAB Act; PAMA Reporting Delayed by One Year

On December 19th, after multiple years of uproar from ACLA and other stakeholders on behalf of seniors who rely on lab tests, Congress has officially passed the Laboratory Access for Beneficiaries Act, also known as the LAB Act. This bill, which is expected to be signed by the president into law soon, will delay the reporting of lab payment data required by PAMA (Protecting Access to Medicare Act...

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The Impact of Hospital and Outreach Laboratory Revenue Cycle Management Incentive Misalignment

Many hospital finance leaders think they are collecting at a higher rate than they actually are since write-offs appear as an adjustment to revenue. At the same time, they try to maximize the value of their revenue cycle management (RCM) technology investments and workforce by requiring the outreach laboratory claims to be handled by the same team and systems as the hospital and health...

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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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