Medicare's New Payment System for Laboratory Services - Competitive Landscape and Viability Strategies

Instructor: Dennis Weissman
Product ID: 705828
Training Level: Basic to Intermediate
  • Duration: 60 Min
This webinar will discuss how Protecting Access to Medicare Act (PAMA) is resetting competition between independent and hospital outreach labs, how PAMA will affect lab rates for other payers and what outreach lab programs can do to retain more advantageous reimbursements from commercial payer.
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Why Should You Attend:

Starting in 2018, Medicare reimbursement for most high-volume and many other laboratory tests are seeing reductions of up to 10 percent for each of the next three years, followed by up to 15 percent for each of the next three years as required by the Protecting Access to Medicare Act (PAMA). All clinical labs in the U.S. - from the largest national reference labs to hospital outreach labs to physician practice labs will be impacted by these substantial cuts. Moreover, reduced Medicare payments will also result in lower payments to state Medicaid programs and have a ripple effect to commercial insurance payers which will move to adjust its rates downward to labs as part of future contract negotiations.

Attend this webinar to prepare your organization for the changing competitive dynamics of the clinical laboratory industry and understand how the reset will impact major lab segments plus find out what they must do to remain viable. Specifically, you’ll learn why labs in different practice settings will be forced to consider their strategic options to reorganize, restructure, merge or consolidate with another lab or sell altogether plus find out why hospital outreach labs will have to reprice their testing services to remain competitive. Finally, gain new insights into what strategies labs will have to remain viable in the shifting lab market and how all this will impact the future consolidation of the industry.

Areas Covered in the Webinar:

The webinar will cover the following crucial challenges for the lab industry:

  • Why the new PAMA payment methodology and resulting Medicare payment reductions for labs is fundamentally shifting the industry’s competitive dynamics
  • How competitive between independent and hospital outreach labs is being reset by PAMA
  • Why outreach programs must be more transparent in their pricing and why some will have to develop revised fee schedules
  • How PAMA will affect lab rates for other payers
  • Why community and regional labs face the most danger under PAMA and what steps they should consider in order to remain in business
  • What outreach lab programs can do to retain more advantageous reimbursement from commercial payer
  • Why labs will be forced to negotiate differently with reagent and equipment vendors
  • Find out what specific business strategies labs will have to consider to remain competitive in the volatile lab space
  • Determine why changing market conditions are likely to create access problems for lab services for rural and inner city areas
  • How will the fallout from PAMA affect the future consolidation of the lab industry.

Who Will Benefit:

  • Laboratory Presidents
  • CEOs
  • COO
  • CIOs
  • VPs
  • Medical and Administrative Laboratory Directors
  • General Managers and other senior managers
  • Head of Reimbursement
  • Billing and Finance
  • Legal & Compliance Executives
Instructor Profile:
Dennis Weissman

Dennis Weissman
President, Dennis Weissman and Associates LLC

Dennis Weissman is a nationally known independent analyst and thought leaders in the clinical laboratory and pathology sectors for over three decades. Dennis is president of Dennis Weissman & Associates, LLC of Falls Church, VA, a consultancy which provides market intelligence, M&A advisory services, public policy monitoring & advice and business leadership to diagnostic and life science companies and organizations. He has expertise in Medicare and health care reform policies and trends; clinical lab and pathology payment and compliance policies as well as M&A and business issues and direction to diagnostic and life science companies.

Mr. Weissman has expertise is Medicare and healthcare reform policies and trends, clinical laboratory and pathology payment and compliance issues as well as business and financial trends affecting the diagnostic and medical technology sectors. He regularly speaks on a wide variety of healthcare topics during webinars, seminars and conferences sponsored by professional associations, medical groups and healthcare companies.

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Refund Policy

Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange.

Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time.

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