Health system and hospital executives are preparing for the potential impact that price transparency will have on already rapidly decreasing operating margins. Among service lines, the $75 billon dollar market for clinical laboratory services will be among the most scrutinized as payment reform legislation will reduce reimbursement by up to $5.14 billion from 2017-2026. Increased consumer awareness around pricing as well as regulatory legislation are forcing the laboratory service line to be prioritized as a strategic focus to minimize impact to patient service delivery and, at the same time, protect the bottom line. What strategies are most effective in a proactive approach? Join this session to identify ways to prepare for this laboratory industry paradigm shift including:
- How to best determine the laboratory’s role in hospital or health system-wide strategies.
- Tools that can be developed to assess the risk of price gaps and managed care reductions.
- Potential new revenue streams to evaluate and offset revenue reductions.