Leveraging your Billing Function to Prosper in a more Challenging Environment
Join LBS President, Tom Hirsch, for a webinar on Thursday, April 17 at 3:00 PM ET where he will discuss how to leverage your laboratory’s billing function. Additionally, Tom will be available for a Q&A session at the end of the presentation. Please register here, and we look forward to you joining our discussion on the April 17.
The laboratory industry has entered a challenging time where both reimbursement and utilization will be subjected to continual downward pressure for the foreseeable future. These headwinds are compounded by potential changes in how health care is reimbursed as the industry moves towards accountable care and population health management and deemphasizes fee for service medicine.
There will be little or no margin for error in performing all laboratory activities, and the billing function is no exception. The lab must realize every dollar it is entitled to collect as cost-effectively as possible and more importantly, better understand the real value of client and provider relationships.
This session will focus on the key billing activities a lab must excel at to survive in a more challenging and competitive environment. We will quickly address standard performance metrics and service features that represent standard practices for laboratory revenue cycle today. Most of our presentation, however, will be focused on using billing information to gain better insights into your business and to begin thinking about how to leverage revenue cycle data to support population health risk assessments and manage towards improved outcomes.