Smart Steps for Labs and Hospital Outreach as CMS prepares to Cut Medicare Fees
The business strategy employed by the nation’s largest commercial laboratories to aggressively negotiate steep discounts on their clinical laboratory fee schedules to gain market share will result in driving the most disruptive change to Medicare’s Clinical Laboratory Fee Schedule (CLFS) in more than 20 years. Medical Laboratory Observer connects clinical lab professionals with peer-reviewed articles, CE courses, lab management tips, regulatory updates, industry trends, and new product reviews. This article is featured as the “Washington Report” in the April 2017 issue and was written by Jeffrey H. Myers, Vice President of Consulting for Chi Solutions, an Accumen company. Read the full article here.
Laboratory Outreach Growing Despite Challenges
Hospital laboratory outreach programs continue to grow, despite major challenges, with the average size program growing from $10.6 million in the early 2000s to $24.9 million in 2016. Laboratory Economics is a competitive market analysis for laboratory management decision makers and features this article that interviews Dr. Kathleen Murphy, Senior Growth Advisor and Jeffrey H. Myers, Vice President of Consulting for Chi Solutions, an Accumen company. Read the full article here.
New! “Is the Value of Hospital Lab Outreach Underrated?”
New! “Coming PAMA Price Cuts to Medicare Clinical Lab Fees Expected to be Heavy Financial Blow to Hospital Laboratory Outreach Programs”
This article features Dr. Kathy Murphy, Senior Growth Advisor and Jeffrey Myers, Vice President of Consulting as experts on hospital laboratory outreach operations and finances as published in the December 12 edition of Dark Daily Clinical Laboratory and Pathology News and Trends. Read it now!
Becker’s Hospital Review of Presentation at the CIO/HIT + Revenue Cycle Conference
Becker’s Hospital Review has written a review after a presentation at the 2nd Annual CIO/HIT + Revenue Cycle Conference in July of 2016 that featured Jeff Myers of Accumen and Denise Irons of Baystate Health: “How clinical lab data can boost hospital operating margins” Read it now
Product Spotlight: Laboratory Consulting from Chi Solutions
Sean McKibben, MBA, President and COO of Mount Carmel West Hospital, a Chi Outreach client is featured in the Product Spotlight of the July/August 2016, Volume 5, Number 6 edition of MedicalLab Management magazine. Mount Carmel’s initial engagement with Chi Solutions began in 1997 when they partnered to design an integrated delivery system for the core laboratory.
“CLIA and Regulatory Readiness: How Can Your Lab Always Be Ready?”
Much has been written about laboratory regulations and the regulatory process. Why publish another article now? Changes to the healthcare environment in the United States over the past few years have left hospitals and laboratories asking questions about resources. How does the laboratory continue to provide quality service to patients and practitioners while reimbursements decrease? How do regulatory requirements fit into this same picture? How can the laboratory stay ahead of new regulations?Many laboratories do maintain readiness throughout the inspection cycle. These facilities share common traits. This article will identify success strategies when dealing with regulatory compliance. In general, these strategies fall into three categories: 1) knowledge, 2) awareness, and 3) good management practices. Read the full article as it appears in the July 2016 digital edition of Medical Laboratory Observer and written by Nora Hess, MBA, MT(ASCP), PMP,Senior Consultant by clicking here!
Survival Strategies for Laboratory Outreach
While clinical laboratory testing as a diagnostic tool continues to grow in influence and importance to the majority of medical decision making, ongoing changes in the health care industry are providing new challenges, including disruptive business models and technology, engaged and cost-conscious consumers, and changing payment models. The third and final part of this article series provides a roadmap for transforming the laboratory from an inpatient-focused hospital entity to a community-focused outreach operation that provides service to physicians and patients, and brings additional volumes and revenues to the hospital or health care system. Chi Solutions, Inc. is listed as a source of outreach assistance in the March 2016 publication of MedicalLab Management.
Applying a Value-Based Model to Lab Outreach
Laboratory outreach programs face daily challenges emanating from competing facilities, regulatory and insurance issues, consumer (patient) choices, and the ongoing pressure to justify laboratory’s value to senior leadership. Part Two of this series examines how the evolution to a value-based payment model is impacting laboratories and ultimately may necessitate entirely new systems and metrics to demonstrate the laboratory’s value within the health system. Chi Solutions, Inc. is listed as a source of outreach assistance in the January/February 2016 publication of MedicalLab Management. This is the second article in a three-part series on laboratory outreach and part one is listed below.
Operational & Financial Efficiency: Lab Automation Impact on Operational Costs
Mounting difficulties for the medical laboratory industry continue to impact the operational and financial viability of hospital and health system laboratories. Along with the enduring pressure to reduce costs and increasing staff shortages due to an aging workforce rapidly approaching retirement, laboratories face a rising demand for higher service levels (faster turnaround time and more comprehensive in-house test menus) from accountable care organizations (ACOs) and other entities. Juxtaposed with this situation is a pernicious reduction in payment and reimbursement for laboratory services, largely influenced by Medicare’s nearly three-decades-long fee schedule decline. This article was written by James M. Root, MBA, Senior Consultant and featured in advance healthcare NETWORK FOR LABORATORY. Read it now.
Revenue Risk and Price Transparency in Hospital-Based Laboratories
Hospital finance leaders should prepare for a potentially adverse revenue impact from impending changes in payment for laboratory services and increasing demand for greater price transparency regarding such services. This article was written by Jeff Myers, CPA, CFO and Vice President of Financial Services as a feature in the November 2015 HFM Magazine. Read it now.
Models for Success in Clinical Lab Outreach
Designing Clinical Labs: Four Changes That are Improving Efficiency and Answering New Challenges
Chi Solutions’ Chi IQ™ Cost and Productivity benchmarking solution is referenced in a September 2015 article.
Survey Finds Most Hospital Outreach Businesses Not on Block
Chi Solutions’ CEO, Kathy Murphy, PhD, talks about some of the results of Chi’s 13th Outreach Survey in the G2 Intelligence Laboratory Industry Report article, “Survey Finds Most Hospital Outreach Businesses Not on Block””
Future of Laboratory Outreach: All Systems Go
Kathy Murphy is quoted throughout the article “Future of Lab Outreach: All Systems Go”