Blog Posts by Date: Aug 2018

The PAMA and MACRA Relationship: The Tale of Two Policies

  • August 29, 2018

We have witnessed the impact of two Medicare (CMS) legislative mandates: Protecting Access to Medicare Act (PAMA) on the laboratory and healthcare systems and will witness the impact of Medicare Access and CHIP Reauthorization Act (MACRA), on January 1, 2019.  Both PAMA and MACRA are designed, for the most part, to manage costs through the use of...


The Cost of Preserving the Status Quo

  • August 28, 2018

Many of today’s laboratories and diagnostic providers are running on relatively slim profit margins. This is due in part to revenue compression caused by, among other factors, lower fee schedules dictated by the Protecting Access to Medicare Act (PAMA), which came into effect in early 2018. This loss of revenue can lead a laboratory leadership...


What do the CMS Medicare Physician Fee Schedule Changes Mean for Pathology Labs?

Right now, clinical laboratories and pathology practices are faced with the continuance of PAMA cuts and budgeting based on the proposed changes to the Medicare Fee Physician Fee Schedule. Both scenarios reinforce the need to be more aware of the financial implications of these updates as well as the general underlying cost of running laboratories...


Creating Value-Based Diagnostic Test Pricing

  • August 20, 2018

Value-based healthcare is now a focus of our national health policy. In this context, value is defined as the patient health outcomes achieved per dollar spent. The goal, of course, is better health, better care, and lower costs.Laboratories and other diagnostic service providers, while facing economic pressures due to revenue compression and...


Automated Insurance Discovery: Overcome Your Obstacles

  • August 13, 2018

One of the largest obstacles to laboratories getting paid for their services is a lack of accurate patient insurance and demographic data. Laboratories often receive ordering hospital and physician data prior to it being complete and correct. Complicating the situation even further for labs is the frequent lack of access to the patient before...


Effective Revenue Cycle and Compliance Management for Maximizing Revenue & Valuation

  • August 8, 2018

Revenue cycle management (RCM) and its supporting business intelligence (BI) are critical to an organization’s success, from a compliance as well as a revenue and valuation maximization perspective. Efficiency and effectiveness of a lab’s RCM processes are among the fastest routes to financial improvement and successful navigation of regulatory...


XIFIN and Cordant Health Solutions to Present at G2 Lab Leadership Summit

  • August 2, 2018

With an estimated 5% of laboratory revenue lost due to inaccurate data, it is clear to most labs that a fix is needed. On August 3rd Cordant will join me at the G2 Lab Leadership Summit in Denver, Colorado, to review market trends and impacts as well as showcase the financial benefits for labs using an automated insurance discovery solution....