Creating Strategic Efficiency
Hospitals, health systems, and independent clinical laboratories continue to deliver results while facing real-time challenges and disruption. This requires the implementation of a comprehensive approach that incorporates the best of methods, processes, and technology to drive compliance, performance improvement, cost reductions and effective revenue cycle management in order to deliver quality care and provide strategic management for the business of healthcare.
In today’s competitive healthcare environment, laboratories are presented with unique challenges including:
- New marketplaces
- Technological advances
- Supply chain disruption
- Erratic practice patterns
- Reimbursement cuts
- Compliance issues
NMG assists clients in managing these changes and financial uncertainties while positioning them for a sustainable future. Balancing fiscal, strategic, clinical, and operational initiatives is our specialty. We will not only conduct assessments and make recommendations, but we will help you implement needed changes to drive results.
Taking action is imperative as spending on clinical lab testing services continues to decline (about 0.3% over the past two years) Proactive steps must be taken to prepare for change.
Laboratories have been impacted by decreases in Medicare payment rates for most high-volume tests by nearly 30% over the same timeframe. Some private insurers have lowered their clinical lab test reimbursement as a result of reductions to the Medicare Clinical Laboratory Fee Schedule.
NMG can assist your laboratory by offering sophisticated analysis, leveraging existing infrastructure, accessing purchasing agreements or cost-reduction strategies. We will identify key areas of opportunity for optimization and provide recommendations for maximizing profitability.
Call us at (207) 363-8230 or fill out the form below to schedule a free consultation.