CANCELLED: Managing Expenses to Reimbursement
Track: Leadership & Laboratory Management
As laboratory managers, we are expected to ensure we provide accurate results in a timely and cost-effective manner. Over the years we have focused primarily on accuracy and timeliness, but recently we have realized the need also focus on cost effectiveness. This presentation will focus on ascertaining the financial health of an assay by comparing the assay’s reimbursement to its cost. We will do this by reviewing some of the more common costing models available and the pros and cons of each type. We will also discuss how to use this cost information to help set “budgets” for our assays, which allows us to also identify opportunities for improvement. Finally, not all assays may be viewed as financially healthy or profitable when viewed in isolation; we will also discuss how to view that assay as part of the larger episode of care for the patient and how to assess the larger financial impact.