Laboratory Economics' Anatomic Pathology & Clinical Lab Survey

Attention pathology groups! Laboratory Economics, an independent market research firm focused on the business of pathology and laboratory medicine, is conducting a survey to gain insight on current business trends among anatomic pathology groups and clinical labs. Please take a few moments to fill out this survey and in return for your participation, you will receive a full summary of the survey...

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Digital Pathology Primary Diagnosis is Approved – Is Your Lab Ready for the Future?

Earlier this month, there was an exciting announcement that Leica received their FDA 510(k) clearance to market a digital pathology whole slide imaging system for primary diagnosis. This comes on the heels of Philips’ groundbreaking announcement of FDA clearance in late 2017, which was the first device ever cleared for primary diagnosis. These advancements are initiating significant momentum in...

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How the Most Successful Laboratories in the Country Continue to Thrive in the Midst of an Increasingly Complex Reimbursement Environment

The business of laboratory revenue cycle management (RCM) becomes more complex every day; with reductions in reimbursement, increasing rejections and denials, payor specific billing rules, shifting financial reporting and accounting requirements (PAMA, FASB ASC 606, medical economics reporting), OIG and EKRA (false claims) compliance standards, malware and ransomware attacks, etc. Once there was...

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Hidden Landmines in Revenue Cycle Management: 4 Rules of Report Analysis to Follow (Part 3)

This is the third post of a three-part blog series focused on key areas of business performance management for pathology practices, diagnostic laboratories, and molecular diagnostic providers. The other blog posts in this series can be found here: Part 1 and Part 2 At the recent Executive War College, I had the honor of presenting with Diana Richard and...

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Hidden Landmines in Revenue Cycle Management: Misleading Metrics (Part 2)

This is the second post of a three-part blog series focused on key areas of business performance management for pathology practices, diagnostic laboratories, and molecular diagnostic providers. The other blog posts in this series can be found here: Part 1 and Part 3 Below, we have detailed the need for a complete understanding of the drivers behind the metrics...

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Final Steps in Preparing for the PAMA Reporting Period (Part 2)

In our last post of this series, we identified “The First Steps in Preparing for the PAMA Reporting Period” as confirming your laboratory’s applicable lab status, executing an RCM data review, and assigning a project team and project team lead. Once you have carried out these steps, there are four additional steps to be taken before you complete your submission.  Step 4:...

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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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Improving Operational & Financial Performance – Why EHR Revenue Cycle Modules Aren’t Enough for Hospital Labs (Part 3)

As discussed in Part 1 and Part 2 of this 4-part series, hospital outreach and outpatient laboratories are often asked to use the hospital’s enterprise revenue cycle management (RCM) module that is offered as part of the EMR/EHR software in an attempt to save money or accelerate the return on investment on the enterprise software system. While this may seem like a smart, economical decision, it...

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