The
Revenue Opportunity
The Revenue Opportunity
WHY
SHOULD A HOSPITAL SYSTEM OR A PATHOLOGY GROUP COMMERCIALIZE ITS CLINICAL
LABORATORY?
The straightforward answer is
that it allows the host entity to convert its laboratory from a cost center to a
revenue engine. However, there are several business advantages to the
development of an Outreach Laboratory business model:
- Create an incremental cost model by using the
current fixed cost financial structure
- Reduces
per unit cost for Inpatient and Outpatient testing
- Creates
a revenue stream for the Clinical Laboratory
- Create
a base of business for your laboratory by leveraging the relationship with
Physicians associated with the hospital or pathology group
- Better
turnaround for routine testing than that offered by the national labs
- Direct
consultation capability with the supervising pathologists
- Consistency
of lab results for Better Patient Care
- Maximize
your reimbursement by leveraging your contracts with Payers
- Do
Not allow hospital negotiators to ‘give away’ your lab testing;
leverage the negotiating power of the entire facility
- Always
bill ALL payers even if you are excluded from a contract; most managed
care companies will pay for lab work if it is billed under the
hospital’s Tax ID Number
- Provide
a complete medical record of a patient’s laboratory history (Inpatient,
Outpatient and Outreach data
- A
Complete Electronic Medical Record is quickly becoming a requirement for
healthcare providers
- Laboratory
data is a valuable commodity for both managed care and pharmaceutical
development companies.
- Currently,
the national labs cannot offer this service!
An Outreach
Laboratory Program can be operated as a profitable business by giving attention
to the following triad of business basics:
CLBS offers value
based services that will transform your hospital or pathology laboratory into a
competitive and profitable business.