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The session will deliver an in-depth exploration of strategies to empower hospital laboratories to either enter the outreach market or expand their current programs. It will educate attendees on how to accurately measure the financial success of such programs as well. A real-life example of outreach success will motivate attendees by showing them what’s possible in their own communities.
By focusing on three primary perspectives, the speakers provide a comprehensive understanding of how to increase the value that these laboratories provide to their health systems.
First, David Shiembob, MBA, C(ASCP), will address how hospital laboratories can accurately measure the financial impact of incorporating outreach programs. “An incorrect financial analysis can harm your lab and health system,” he says. “If you’re not able to identify and correct those mistakes, it's possible no one will.”
Shiembob’s talk will lay the foundation for justifying the expansion and quantify added value brought by increased test volumes. He will share financial concepts that will leave attendees better equipped to evaluate and advocate their program’s profitability and sustainability.
In the next segment, Christopher Rabideau, MBA, MLS (ASCP), will explore the operational considerations needed to successfully integrate outside testing into a hospital laboratory. From implementing workflows to maintaining high standards of connectivity and client service, Rabideau will shed light on how to overcome logistical challenges involving couriers, revenue cycle management, and pricing strategies.
The session will conclude with a compelling case study presented by Jayne Ellenwood, MHA, MT (ASCP). Drawing from her experience with Bryan Medical Center, Ellenwood will narrate the journey of a hospital-based outreach program that successfully navigated the challenges of expanding its testing services. This real-world example will illustrate the transformative effects an outreach initiative can have on the entire health system.
“Our experience provides valuable insights into the process, along with practical lessons learned along the way,” Ellenwood says. She will outline how her current outreach programs have increased testing volume by over 50%, significantly increasing revenue growth. “When done right, outreach has the power to transform the lab from a traditional cost center into a vital, value-generating part of the hospital and healthcare system,” she adds.
Attendees can expect to learn the financial concepts related to adding volume and revenue to their laboratories and be able to define the key operational aspects of outreach programs. They’ll also leave with the insights from the case study that can be leveraged to foster laboratory growth and value.
Whether you are seeking to establish a new outreach program or expand an existing one, this session is engineered to offer strategic solutions and innovative perspectives. “I hope our audience comes away with an understanding of how to assess the profitability of adding additional testing volume to a hospital laboratory and some of the common pitfalls to avoid,” says Shiembob.
