Lynn shared a very detailed cost accounting template that she uses for compiling reagent & labor cost, loaded cost, and fully loaded cost per test.ģ. Lynn’s goal for test pricing is to maximize facility reimbursement and minimize patient out-of-pocket cost. Lynn shared that it is very important to understand the lab cost per test in order to set accurate pricing, understand your margin, perform a make vs buy analysis, and comply with the regulations on inducement. The worth of a lab test was described in many different ways: information, diagnosis, peace of mind, $40, my job, a patient’s life, and not having to transfer patients to another facility. The lab is a revenue center, not a cost center, and produces diagnostic data not just test results. Lynn started her talk with discussion on the value of the lab and lab tests.
Sc (Hons), Manager of Laboratory Business Systems and Outreach, University of Vermont Medical Center, and Network Manager for the North Eastern Community Laboratory Alliance, expertly presented on “Identifying Laboratory Costs”. Regarding the PAMA update, there has so far been no delay for the implementation set for January 1, 2018.Ģ. Sharon covered topics on regulating LDTs in relation to the FDA discussion paper and the Diagnostic Accuracy & Innovation Act (DAIA), updates on the FDA-CMS task force, PAMA, privacy within precision medicine and genetic data, informed consent, discrimination, and the potential impacts of variants of unknown significance, along with the potential timeline for implementation of some of the components. Legal Updates were presented by Sharon Zehe, J.D., attorney, Mayo Medical Laboratories. A few of the sessions are described below:ġ. The second day of the 2017 Leveraging the Laboratory conference in Philadelphia, PA, was comprised of smaller, hour-long breakout sessions throughout the day with the attendees having three choices of different speakers and topics per hour.
Shirley Roque, Outreach Program Advisor, recaps day 2 of Leveraging the Laboratory Follow this blog and #Leveraging2017 on Twitter, Facebook, and Instagram for live updates.
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The laboratory contributes to the health care system’s success through effective integration of testing from the community.
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