Your lab is an asset, and we can help you sustainably expand your reach through customized business development solutions. From outreach plans to pricing strategies, we assist in connecting the dots between lab, providers, and patients to create a streamlined and competitive approach to healthcare.
Strategic Business Planning
From cost containment to fiscal sustainability, create the business plan that meets your organizations unique goals and needs.
Your plan will:
- Reduce redundancy
- Improve operational efficiency
- Integrate/consolidate laboratory services
- Create one laboratory service line with system-level management
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Revenue Cycle Management
As the industry shifts from a siloed, fee-for-service model to an integrated, value-based model, healthcare organizations are in need of effective revenue cycle management. Position your lab to employ best pricing and billing practices to compete effectively and drive optimal reimbursement.
- Review billing, collections, payment posting, and contracting practices
- Promote clean claims, manage denials, and reduce write-offs
- Evaluate patient access tools
- Consider alternative billing options
- Develop market-appropriate pricing strategies
Want to better understand your cost structure?
Cost accounting for many laboratories is a significant challenge, and labs must have a better understanding of their cost structure. Our financial analysts are equipped to perform break-even analysis on laboratory data to support informed decisions related to costs, pricing, and reimbursement.
Need to strike the right balance with pricing and margin?
Our consulting team will help your lab evaluate strategies that strike the right balance between being competitively priced and making the necessary margin to cover cost and support the organizational mission.
Outreach Business Planning
Building and running a successful outreach business requires the right infrastructure, the right team, and the right targets. We’ll help you find your best growth opportunities that align with community-based providers, build referral volume, and keep testing close to patients.
Access resources that:
- Identify and quantify market opportunity in outreach market segments
- Build essential pre- and post-analytical operations to support a competitive business unit
- Incorporate revenue cycle management practices to contract, price, bill, and collect efficiently
Market Opportunity Assessment
Strengthen your existing business and acquire new targets with a comprehensive, customized market analysis. Our experts help you identify losses with affiliated (inreach) providers, capture new business with market-at-large (outreach) providers, and recognize competitive challenges in the marketplace.
Gain insight with:
- Net revenue stratified by:
- Skilled nursing facility
- A competitive analysis of national and regional labs
- Customized sales forecasting
- Five-year financial projections with ROI
Inreach Opportunity Assessment
Capture the business you should have and successfully compete for the outreach you want.
When affiliated physicians refer testing outside the health system, the subsequent loss in net revenue and increase in unit cost can be significant. Our root cause analysis determines the underlying reasons physicians refer outside the system.
- The monetary value of inreach business
- Which providers are driving outside referrals
- Strategies to capture inreach and reduce loss
“Executives need to shift their perception of the lab from a burden to an opportunity. We can help with that shift.”
VP of Strategic Relationships