Powerful forces are at work transforming the U.S. healthcare system and the clinical laboratories that serve it. These forces will be identified and discussed at the upcoming 25th annual Executive War College on Lab and Pathology Management, which takes place on April 28-29 in New Orleans. “Without question, the one trend that has the full attention of every clinical lab CEO and pathology practice business leader is how payers are slashing what they pay for lab tests,” stated Robert L. Michel, Editor-In-Chief of The Dark Report and Producer of the Executive War College.
“To help labs respond appropriately to these payer actions, there will be experts and sessions dedicated to revenue cycle management, how to submit more clean claims, and ways to make coding/billing/collections more effective, to name a few. “Plugging the holes in lab revenue caused by the different policies and actions of government and private payers is the immediate priority, but lab leaders also need strategies that align their organizations with the fundamental changes in the delivery of healthcare that are happening today,” continued Michel.
Labs Getting Paid for Value
“One important trend is the shift away from fee-for-service payment and toward different models of value-based reimbursement,” he said. “Several speakers will lead sessions on how their labs are getting paid for delivering actionable clinical intelligence to physicians and payers in real time, thus creating a new source of revenue.” One learning track at the Executive War College will deal with consumers as the drivers of change, informed by transparent prices and easy access to provider outcomes. Another learning track will cover how labs are succeeding with Clinical Lab 2.0 projects, sharing how they engaged payers, ACOs, and others in ways that allowed them to deliver more value—and be paid for that value.
Response to Coronavirus
There will even be a session on how one major health system laboratory responded to the ongoing outbreak of the novel coronavirus. Keeping with this topic, all systems are “go” for the Executive War College, for an interesting reason. “As of this date, lab professionals are registering for the Executive War College at or above the level of last year,” observed Michel. “We attribute this to a simple fact: Lab managers and pathologists have training and experience in lab medicine which helps them understand that—as the usual end of the flu season arrives by late March—there is a high probability that new cases of influenza and the novel coronavirus will fall to low levels. This was true of the outbreaks of SARS in 2003 and MERS in 2012.”
Two optional, one-day workshops will take place at EWC on Thursday, April 30 (www.executivewarcollege.com). They are:
• Anatomic Pathology Gamechangers: How Digital Pathology, Precision Medicine, and More Can Generate New Revenue Streams and Grow Pathologist Income; and,
• Lessons from Clinical Lab 2.0 Innovators: Creating New Revenue Streams for Your Lab, Ways to Add Value, How to Engage Payers