Blog Posts by Tag: Laboratory
Top 5 Industry News Topics of 2019
2019 saw many policy changes and newsworthy events that affected labs and medical billers. Here is a recap of our most-viewed industry news articles of 2019:1. New Codes Effective July 1, 2019 – Proprietary Laboratory Analysis (PLAs)The following new codes may need to be manually added to the HCPCS file by the MACs with an effective date of July 1, 2019. These new codes are also contractor-priced...
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...
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Challenges, Patient Engagement, and Denial TrendsMany trends in payor behaviors and reimbursement go unnoticed due to outdated RCM...
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...
Is Your Lab Embracing the ‘Consumerism in Healthcare’ Era? It Should.
Enjoy the following content from our partner, FrontRunnerHC. The concept of consumerism in healthcare has evolved over the years, and whether we are in support of it or not, we must trust that the industry landscape has a new driver: the patient. The patient is taking charge of their healthcare more than ever. As consumers, they are proactively researching the different service options available...
Upsurge of Medical Necessity Denials Fueled by ICD-10
One perhaps unexpected impact of the adoption of ICD-10 codes in 2015 was the dramatic increase in medical necessity denials of clinical laboratory tests. In an interview for The Dark Report (November 25, 2019 edition), Kyle Fetter, XIFIN Executive Vice President and General Manager, stated the increased data provided by additional diagnosis codes has led to health insurers requesting...
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...
6 Key Areas Lab RCM Provides Value
Too often, hospital outreach and outpatient lab leaders have enterprise revenue cycle management (RCM) systems pushed on them in a misguided attempt to save money or increase the ROI of the health system’s hefty EMR or EHR technology investments. However, a purpose-built laboratory RCM more than pays for itself while improving enterprise system ROI by increasing cash collections while reducing...
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