To meet the challenges of today’s healthcare system, lab executives and administrators are rethinking their business strategies. As the era of fee-for-service from government and private payers is replaced by value-based reimbursement, how will clinical laboratories and pathology groups be paid? As integrated care organizations, such as ACOs and medical homes, enter the healthcare market, which lab testing services will deliver the most value to these new users? And will payers issue coverage guidelines and set adequate prices for the flood of new molecular assays and gene tests coming to market? These complexities have already driven a handful of medical laboratories and pathology practices to bankruptcy, sale, or closure. Innovative lab business and service models, such as those at TPC, are emerging to address these concerns.
Almost 60 percent of U.S. hospital executives said their institutions have had to change their business models if they’re going to survive financially. Conjointly, it is well established that both outsourcing lab services and creating partnerships help reduce costs. While most of TPC Members do outsource their clinical reference lab services, many have contended with how to secure true partnerships that assist them in further reducing spend in this area. By working together through TPC’s Clinical Reference Lab services, Members have realized an improved supplier relationship, and gained both financial success and improved efficiencies.