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.”
Tag: managed care strategy
CEO SUMMARY: For the first time in almost eight years, there are major disruptions to the status quo in managed care contracting for laboratory testing services. As was true in the 1990s, national lab companies are pursuing exclusive national contracts with the nation’s largest health insurers. In the 1990s, a similar competitive battle triggered a
Third quarter financial performance at all three national laboratories improved over the same period of 1997. It is an important sign that the three companies are stabilizing their finances.
All three national laboratories continue to emphasize cost-cutting as a major corporate priority. That is to be expected, since increased penetration of managed healthcare maintains a downward