Dr. Richard J. Cote Appears Today on Webinar Addressing Laboratory Reimbursement Strategies
Richard J. Cote, M.D., professor and Joseph R. Coulter, Jr. Endowed Chair in Pathology, professor of biochemistry and molecular biology, and Director of BioNIUM, will be a panelist on a webinar today that will address strategies for laboratories to deliver value in ways that increase reimbursement for their lab testing services.
There is a new reality in healthcare and lab testing: payers are less willing to pay fee-for-service. Instead, Medicare wants to put more outpatient/outreach tests into payment bundles while private payers are beginning to negotiate budgeted payment arrangements with labs. A related trend is the growth of accountable care organizations and medical homes. That means global payments, some of which are at-risk, for which labs must justify their share of the money.
“These are the reasons why a handful of progressive labs in the United States have already stepped up with strategies that increase the value of their lab testing services,” said Robert L. Michel, Editor-in-Chief of The Dark Report, the program’s host. Clinical laboratory professionals will have the opportunity today at 1 p.m. to engage with Cote and another expert in the field to gain crucial information about this topic during the webinar, which is entitled “Moving from Volume-Based to Value-Based: New Business Models in the Clinical Laboratory Industry.”
“During this timely and important session, webinar participants will learn what is working, why it is working, and how laboratories can benefit from developing value-based lab testing services,” said Michel. “Participants will benefit from hearing about the lessons these lab leaders have learned, as well as the most effective and efficient ways for lab teams to consult with clinicians in order to help them improve their patients’ outcomes.”
Cote, who is also a member of Sylvester Comprehensive Cancer Center, will discuss how his pathology department and clinical laboratory have reacted to the highly competitive health care market with multiple service enhancements. He will be joined by Khosrow R. Shotorbani, President and CEO of TriCore Reference Laboratories. Mr. Shotorbani will explain how his company’s lab is delivering big data-based clinical services to physicians that enable them to achieve measurably better patient outcomes.
Among the valuable information to be presented during the 90-minute webinar:
• Reassessing how laboratory services should be delivered, and how to best provide value to the health care system
• Defining the value proposition beyond pricing and incorporating non-commodity drivers of value
• Examples of value-added clinical services that pathology and clinical laboratories can provide to meet the market demand
• How other pathology/clinical lab groups have realigned their financial strategies to meet the changes of the new payment system
• Because information is a key value driver, the session will cover the inclusion of informatics as a part of the retooling
• How to be a collaborative partner with integrated delivery systems, ACOs, medical homes, and health insurers
• Tips for moving confidently forward with leveraging the lab’s competencies, and much more
The Department of Pathology will host the webinar at Holtz Children’s Hospital, 2nd floor, Large Conference Room #2034.
As an value-added benefit, the end of the session will be opened up for a live Q&A. For more information about “Moving from Volume-Based to Value-Based: New Business Models in the Clinical Laboratory Industry” and to view webinar details, including presenter biographies and pricing, visit tinyurl.com/volume2value or call Ron Martin at 512-264-7103.