At Ancillary Medical Solutions, we have seen how the landscape of healthcare and healthcare reimbursement is changing. We understand that it has become harder for you and other physicians to remain independent and how revenue is constantly changing due to new regulations and reimbursement changes dictated by medical necessity as well as insurance payout.
On top of the dynamic environment of reimbursement, many physicians are wary of setting up their own lab either because they have tried it in the past or they are worried about the capital required for investment in expensive laboratory equipment and the risks involved. Many of you have some experience with other companies and know what you would like to do and possibly how to do it with what specific instruments you would like to use.
We will work with you and your clinic in order to understand your needs and we will listen to you in order to help you institute your own lab in order to provide services for your patients that will improve the efficiency and efficacy of their care as well as improve your revenue stream. We understand the insurance reimbursement and laboratory testing landscape and, when coupled with our knowledge of instrumentation and testing, we can guide you towards a solution that works for you and can seamlessly integrate into your practice.
We can help you determine what licensure is needed, what testing equipment fits your needs, and help you find the appropriate staff for you lab solution. Customization based on your needs is the key to making an in-clinic laboratory work and remain profitable. We will discuss your patient composition, testing currently in-place, and we will go over state requirements so that we can help you make a choice. Working with you and providing consultation is key to our partnership.
An in-house lab not only provides the ability to dramatically increase a clinic’s revenue, it provides the main objective of any healthcare provider: the ability to improve patient outcome through helping to guide diagnosis. Efficiency is improved through shorter wait times while also bringing revenue back into your clinic that you were previously sending out. Having an in-clinic lab provides continuity of care and can help reduce testing discrepancy while improving the financial health of your practice.
Start-up costs and instrumentation vary greatly based upon your specific profile and need. We have found that the majority of clients lease instrumentation for 5 years and often defer payment for 6 months. Usually, the initial start to a lab takes approximately 90-120 days so this gives time to install your solution and begin generating revenue before your first payment.
Our knowledge and experience in this field allow for us to also determine when a service should be instituted as well as when a test should be referred out. We want to partner with you and provide you the appropriate solution that will maximize your care for your patients, improve your revenue stream, and continue to do so when regulations change and reimbursement distributions evolve.