How Will Reimbursement be Managed in the Era of Precision Medicine and Value-Based Care?

  • Mar 27, 2019

If one were to ask the question: How will reimbursement be managed in the era of precision medicine and value-based care? The answer would require careful consideration. The precision medicine (PM) landscape continues to evolve due to the exponential growth, complexity and use of data in clinical decision making. With thousands of new diagnostic tests introduced every year, data sharing is, and...

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When It Comes to Billing and Cash Collection, Remote Patient Monitoring and Medical Device Companies Can Learn from Clinical Laboratories

  • Mar 26, 2019

As consumers, we often take for granted the experiences we have in pharmacies, physician offices, and sometimes even hospitals. In these situations, we have direct interactions with the service provider, and usually know ahead of time what we can expect in terms of cost. Sure, there are exceptions, but as a general rule, we have a better understanding of the expenses for these types of services...

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Key RCM Metrics Your Organization Should Monitor (and Why)

  • Mar 22, 2019

Developing highly efficient and effective revenue cycle management (RCM) processes is one of the fastest routes to financial improvement for laboratories. But, how do you know if your processes are effective for capturing the revenue you have earned? While there are several benchmarks that can provide value to your ongoing monitoring program, there are three key metrics your organization should...

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What are the Future Winning Strategies and Growth Opportunities for Clinical Laboratories?

  • Mar 14, 2019

Dissatisfaction for overall healthcare costs and the efficiency of care delivery in transitional settings like hospitals is opening the door for larger consumer companies to enter the healthcare market. Consumers are increasingly interested in gaining more control over their healthcare and information, and companies like Amazon and CVS can offer just that.What does this mean for laboratories?...

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Improve Reimbursement for Genomic Tests by Leveraging Real World Data

  • Mar 7, 2019

Since the sequencing of the human genome in 2003, genomic testing has become the fastest growing category of biomarker testing within the diagnostic laboratory industry. Many laboratory developed genomic tests use next-generation sequencing (NGS) as an approach to target numerous genomic variants with both proven and emerging evidence of clinical utility. While the panel approach is forward-...

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Simplifying Prior Authorizations

  • Mar 7, 2019

“That’s going to need a prior authorization” are words no healthcare provider, diagnostic provider, or patient wants to hear. Today, the process of obtaining prior authorizations is complex, disorganized, and highly manual. Patients often have no visibility into the process which leaves them frustrated, and in certain instances, they abandon treatment altogether.1 Unlike other pre-service...

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Lab-Specific Revenue Cycle Management Systems Help Keep Hospitals Compliant

  • Feb 27, 2019

Like all laboratories, hospital outreach labs need to ensure compliance with regulatory requirements. Selecting the right revenue cycle management (RCM) partner, dedicated to the unique needs of laboratories helps hospitals keep in step with compliance.Too often, we see hospital outreach labs expected to “make do” with the health system that the hospital uses for billing, claims management, and...

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Are you Maximizing the Bonus Available Through MIPS?

  • Feb 26, 2019

As a non-patient-facing physician, your Merit-based Incentive Payment System (MIPS) score is largely comprised of quality reporting (formerly known as PQRI or PQRS). Did you know that claims-based quality reporting could be causing you to miss out on some of the MIPS bonus available to you?There are multiple factors to consider when making a determination regarding a quality reporting method....

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