Metrics for Strategically Measuring Your Molecular Laboratory

Diagnostic providers are dealing with steadily increasing challenges in regards to billing and reimbursement.  The current environment is one where insurance carriers will continue to expect more for less from laboratories.  It is critical for laboratories to have the ability to maximize their collections without absorbing huge overhead from a staffing standpoint.  Labs can only do this by automating the many administrative workflows that have been put in place to:

1. Slow down the speed at which claims are paid
2. Limit the number and types of services that are paid
3. Reduce the number of laboratories that can participate in each plan

There are ways to achieve this but laboratories need to be prepared to use technology to leverage key advantages and optimize their own collections in today’s healthcare environment.  These are the metrics we feel labs need to be prepared to achieve in order to stay competitive and keep their costs under control.