Survey
after survey says that a consistent weakness of hospital laboratory
outreach programs is a billing and collections department that
leaves big money on the table.
In fact, one major survey shows a full 72% of lab outreach programs
admitted having serious collection problems that result in low
net revenue, high bad debt, and internal inefficiencies. If this
describes your laboratory outreach program, here's some good news
for you.
You can measurably improve the performance of your lab's billing
and collections team, which in turn can directly increase net
collected revenue while boosting your lab's cash flow and operating
margins.
There are simple and highly effective strategies your laboratory
outreach billing and collections department can quickly implement
to:
Produce
more clean claims that are paid on first submission.
Collect surprisingly large amounts of bad debt.
Generate
substantial increases in net revenue and cash flow.
You
know what increased revenue and cash flow could mean to both your
laboratory outreach program and your parent hospital: It lets
you offset years of declining inpatient testing and reduced reimbursement
for many lab tests. More important, it helps ensure the financial
sustainability of your laboratory outreach program.
The cornerstone of financial success is an effective billing and
collections system. But do you know what a good system should
include? And what should it not include? And are you up to date
on the newest and best possible billing and collections procedures
for your outreach program?
Get
answers to these questions and more when you register to attend
the latest Dark Report and DarkDaily.com audio conference "Achieving
Financial Success with Hospital Laboratory Outreach: Six Proven
Ways to Boost Net Revenue" on Wednesday, August 24, 2011.
Listen as two experts detail key concerns in laboratory outreach
billing and offer strategies for creating an effective system
for your lab.
In this information-packed 90 minutes, you'll get sound advice
on how to improve your lab's collections procedures from the following
two experts:
First up is Kathleen Murphy, PhD, CEO of Chi
Solutions. She'll help you better understand why your lab may
be having trouble collecting its outreach revenue-and what you
can do about it. You'll learn how to identify and avoid possible
weaknesses in your billing processes. At the end of this session,
you'll come away with several possible collection strategies and
how to prioritize them so your lab gets the most "bang for
its buck."
Our second speaker, Larry Siedlick, is CEO at
The ARx Group. He'll provide details on the techniques your lab
can use to improve the financial success of its outreach programs.
Laboratory leaders at all levels will come away with a better
understanding of billing best practices and how these could translate
into better financial results for your lab.
Register
today and get the most up-to-date information on how to develop
billing processes that will improve collections and generate increased
revenue and profitability for your lab's outreach program.
And don't forget: You can have everyone on your lab team
participate with you. For just one registration, you can all listen,
learn, and get personalized answers to questions about your lab's
unique needs. Register now to guarantee your participation.
THE
DARK REPORT AUDIO CONFERENCE AT A GLANCE
DATE:
Wednesday, August 24, 2011
TIME: 1 p.m. EDT; 12 p.m. CDT; 11 a.m. MDT; 10
a.m. PDT
PLACE: Your telephone or speakerphone
COST: $195 per dial-in site (unlimited attendance
per site) through 8/12/11; $245 thereafter
TO REGISTER:Click
here or call 1-800-560-6363 toll-free
Strategies
and tactics for addressing common weak spots in lab outreach
billing operations.
How to determine what a bad outreach program could be costing
your lab—and how to turn things around.
Improving your validation processes and the best strategies
for following up on denied or unbilled claims.
Common reasons for poor collections and how to fix them.
How to improve your lab’s collections processes.
The
competencies necessary to create an effective billing process.
…and
much more!
How
to Register:
1. Online
2. Call toll free: 800-560-6363. Your
audio conference registration includes:
A
site license to attend the conference (invite as many people
as you can fit around your speakerphone at no extra charge)
Downloadable
PowerPoint presentations from our speakers
A
full transcript emailed to you soon after the conference
The
opportunity to connect directly with our speaker during the
audience Q&A session
Register
Now!Or for more information,
call us toll-free at 800-560-6363.
Distinguished Faculty:
Kathleen
A. Murphy, PhD is CEO of Chi Solutions, Inc.
She has more than 25 years of progressively responsible
experience in diagnostic services management and consulting.
As Chi's senior executive, Dr. Murphy oversees complex
engagements involving strategic options development,
operations optimization, consolidation, and outreach
program implementation. Helping hospitals compete with
independent laboratories and imaging centers is a personal
passion of Dr. Murphy's. A speaker and author on the
topics of outreach trends, operations improvement, and
laboratory accreditation, she also directs the annual
performance and publication of Chi's Comprehensive National
Laboratory Outreach Survey. Dr. Murphy's education and
training is primarily as a scientist. She received her
PhD in microbiology from the University of North Dakota
and has completed executive education at Dartmouth and
Harvard Business School.
Larry
Siedlick is CEO of The ARx Group, a company
that provides laboratory billing and revenue-management
services to hospital outreach laboratories, pathology
groups and independent laboratories throughout the U.S.
Previously he was CEO of Sunrise Medical Laboratories,
which he co-founded in 1972. Mr. Siedlick has more than
35 years of executive-level experience in the laboratory
industry. He is a former chairman of the New York State
Clinical Laboratory Association and has been a strong
voice for adequate reimbursement for laboratories at
both the state and national legislative level. Mr. Siedlick
is a member of the Healthcare Financial Management Association
(HFMA), the Healthcare Billing and Management Association
(HBMA) and the Clinical Laboratory Management Association
(CLMA). He has spoken at numerous laboratory conferences,
business conferences and corporations in the U.S., Canada
and the United Kingdom and his management and business
strategies have been the subject of several professional
publications.
ACCENT®
Continuing Education Credit
The American Association of Clinical Chemistry (AACC) designates
this program for a maximum of 1.5 ACCENT® credit hours towards
the AACC Clinical Chemist’s Recognition Award. AACC is an
approved provider of continuing education for clinical laboratory
scientists in the states of California, Florida, Louisiana, Montana,
Nevada, North Dakota, Rhode Island, and West Virginia.
