CEO SUMMARY: In California, a gene testing firm is increasing satisfaction among patients and physicians with a tool that provides patients with an estimate of the anticipated cost—before the physician orders a test! By providing transparency about the cost of tests upfront, Counsyl of South San Francisco increased revenue collected from patients by 63%, while also improving its customer satisfaction scores. This innovative online cost estimator tool is an example of how labs can deliver services that complement their lab tests and help them move “from volume to value.”
How Price Transparency Increased Lab’s Revenue
Gene testing company finds patients want to get estimate of costs before test is ordered
- By Joseph Burns
- | From the Volume XXII No. 11 - August 3, 2015 Issue
- Tags: cancer tests, care contracts, clinical lab, Clinical Laboratory, clinical labs, gene screening, gene test, gene testing, genetic test, genetic testing, genetic testing lab, genetic tests, hie, lab industry, lab test, lab test cost, lab test costs, lab test pricing, lab tests, managed care, managed care contract, managed care contracts, managed care strategy, Pathology group, pathology groups, testing laboratory
