Earlier this month, the final 2013 Medicare Physician Fee Schedule was released, confirming November a 52 percent cut for the highest volume technical component anatomic pathology code, CPT Code 88305-TC. The cut, which goes into effect January 1, 2013, has sent anatomic pathology labs across the country reeling. Double what many AP labs had feared, these cuts can quickly demolish the profitability of labs that have previously achieved healthy growth rates.
Amid the reimbursement crisis, what steps can AP labs take to grow?
There are 2 key areas to focus on:
- Create a repeatable, scalable sales model - Increasing volume likely means improving the current team's performance or adding additional sales personnel. In either case, it's impossible to scale client wins without a clear understanding as to why and how wins and losses occur. Gaining this kind of insight is possible by utilizing a healthcare-specific CRM solution, which enables sales teams to accurately forecast opportunities using lab-specific valuation tools. These opportunities and associated details are viewable in real-time to all key stake holders so that performance trends are constantly accessible.
- Deliver the best service - Sure, superior service sounds like a no-brainer. Competing is all but impossible without creating highly personal relationships. The challenge typically lies in consistency. With many "hands" touching issues and orders and communication streams often taking place within silos (one-off emails, phone calls, etc.) how can everyone within the lab stay apprised of provider-specific preferences? The only answer is to bring all data and communications into a central, online location where all provider intelligence can be viewed by anyone who needs it and at the click of a button.
hc1.com is a healthcare CRM that includes real-time lab analytics and lab management tools. By providing a real-time, 360-degree view of all business and clinical activities associated with every ordering provider, hc1.com gives AP labs the real-time intelligence necessary to win more clients and serve them for life.
Learn more about hc1.com and growth strategies with a Free Whitepaper: Growing Your Lab's Sales in 2012.