Lighthouse Lab Services

The July edition of the Lab Insighter is now available! This month, we're diving in on: 👨🔬 Our upcoming webinar exploring results of our 2024 wage and morale survey of lab professionals 📄 Proposed 2025 Medicare Fee Schedule changes and rate reductions 🔬 A deep dive on when it makes sense to consider refurbished lab equipment ➕ And more! View a copy below and be sure to subscribe to receive a new edition each month! #medicallaboratory #revenuecyclemanagement #recruiting #healthcaremorale

Looking to improve your lab's costs and efficiency as we enter the back half of 2024? Here are three smart strategies that will make an immediate impact: 👩🔬 Hire Permanent Staff: Skip the high costs of temporary hires and invest in long-term team members. Our expert recruiters at Lighthouse can find you the perfect fit for your lab's needs and help you save on staffing over time. 🤝 Try a Part-Time Lab Director: Save big on salaries by utilizing a part-time lab director. Our experienced Lab Directors can guide your lab to success for a fraction of the cost of a full-time director without breaking the bank. 🚀 Boost Reimbursements with Billing Audits: Maximize your earnings by identifying and fixing billing inefficiencies and errors. Our Revenue Cycle Management audits optimize your processes by reducing denials and improving your overall billing compliance. Ready to see how much your lab can save? Contact us for a free meeting to learn how we can help implement these strategies and more! #medicallaboratory #laboratoryprofessionals #savings #qualitymanagement

If you missed the release of the Proposed 2025 Medicare Physician Fee Schedule this week, the conversion factor is $32.35 - a 2.8% decrease from the 2024 conversation factor used to determine fee schedule prices. In total, payments to pathology services will drop by 2.4%, largely due to ongoing budget neutrality requirements requiring payment cuts that have been delayed by Congressional action in recent years. For example, two common codes, 88305 and G0416 will experience reductions of 3% and 2%, respectively. As College of American Pathologists (CAP) notes in its analysis: "Rather than eliminate, revise, or replace the budget neutrality requirements in Medicare, Congress has instead responded with band-aid short-term relief packages. These packages do not eliminate cuts; they only delay the impact. For 2025, two congressional relief packages will expire resulting in a -2.9% decrease to the conversion factor. This cut continues the downward trend in pathology payments, which have seen an overall decrease of 7.0% since 2021." Check out the full impact table for individual rate changes to key pathology and lab services below: #pathology #medicare #MPFS #independentlaboratory

It's no secret staffing and wage stagnation have had a substantial impact on the morale of lab professionals in recent years, especially when paired with longstanding pipeline and training limitations facing the profession. However, wages and overall morale have improved in comparison to the past two years, according to the more than 1,000 lab professionals who responded to our 2024 survey. 💪 Join us at noon EDT, July 31, as our recruiting experts unpack the results of this year's survey, including wage averages by position, the prevalence of understaffing, gender wage gaps, and much more. We'll also share tips for improving retention and hiring within your lab, and offer some guidance to candidates looking to land their dream job. 💡 Check out the event details below and be sure to sign up in order to receive a recording if you're unable to attend live! ✔ #medicallaboratory #labprofessionals #labtech #MLT #labdirector #wagestudy #clinicallaboratory

With all of the ongoing developments surrounding the oversight of laboratory tests and other regulatory changes, it can be difficult for labs to stay on top of their quality and compliance. ✔ But following recent CLIA updates, quality officers and other lab managers must review a number of items to ensure they stay on top of their game. With this in mind, Lighthouse's Anna Dawsey Hill, PhD, NRCC-TC, recently sat down with G2 Intelligence to discuss new quality, proficiency, and CLIA updates and what labs need to be aware of in order to maintain their compliance. Check out the full article below ⬇ #laboratorymedicine #compliance #CLIA #quality

While it's a time of transition for the clinical lab space, that doesn't mean there are not ample opportunities available for labs willing to take control of their patient relationships. 👀 By providing patients more visibility into the vital role medical lab professionals play in the diagnostic and decision-making process, labs can improve their seat at the healthcare table and gain more resources in turn. 💡 Thanks again to LabVine for hosting this great event and inviting us to share our insights! #lmss2024 #labortatorymedicine #clinicallaboratory

Last week, the CDC issued an advisory warning of an increased risk of #dengue virus (DENV) infections in the US this year. Globally, cases of dengue have been the highest on record for this calendar year and many countries are reporting elevated dengue case numbers. The CDC says the agency is actively implementing several strategies to address the increase in cases of dengue, including expanding laboratory capacity to improve laboratory testing approaches. Follow the links in the comments below to read up on clinical testing guidance for dengue and instructions for submitting specimens for dengue virus tests. #laboratorytesting #CDC #virus

When a lab is considering making the leap from CLIA-Waived to Moderate Complexity testing, we're often asked what key factors should inform that decision. While there are several considerations to weigh depending on the size and scope of your business, here are three that can help initially determine whether transitioning to moderate complexity testing makes sense: 🤝 Volume and Demand - Labs must assess whether their patient volume justifies the investment in moderate complexity testing. Higher volumes will help to provide consistent testing opportunities and make the transition financially viable. ✅ Staff Training and Competency - Do you currently have staff on hand who are qualified to perform the testing you want to add? Will you need to train or add new staff? 🏨 Infrastructure and Financial Planning - In addition to ensuring you have space for your lab, you should conduct a cost-benefit analysis to understand the financial implications, including initial setup costs and ongoing operational expenses versus the potential for increased revenue. Looking to learn more? Check out our full blog for a deep dive on transitioning to moderate complexity testing below! #CLIA #laboratorytesting #clinicallaboratory

Still seeking clarification on the #LDT Final Rule and how it will be implemented in the coming years? Today, the FDA published a compliance guide that summarizes the 500-plus page rule and offers some recommendations for how impacted labs should respond. This guide is much more digestible and offers: 👀 Scope of the phaseout policy 🚨 Enforcement discretion ✔ Compliance expectations ➕ And more Download the full guide below! https://lnkd.in/gJp5gXAH #FDA #compliance

Check out the June edition of the Lab Insighter for more on: 👩💻 An upcoming webinar exploring the top Pathology coding errors of 2024 and how to avoid these costly mistakes. 👨🔬 Spotlight on our current most placeable lab candidates. 📄 Breaking down how our payer strategy team recently secured a number of new contracts for a long-term client. ➕ Discussing cybersecurity, the LDT final rule, and more! Be sure to sign up if you're not currently a subscriber to receive notifications when each new edition is published! #laboratormedicine #pathology #medicalbilling #newsletter