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Medicare's New Payment System for Molecular Tests Dictates New Reimbursement StrategiesKEENE, N.H. --(Business Wire)-- Effective January 1, 2013, clinical laboratories are now billing for more than 100 molecular pathology tests using new CPT codes, and payment rates are being established by Medicare contractors who, in many cases, have limited experience with molecular testing. According to Kimberly Scott, Managing Editor at G2 (News - Alert) Intelligence, "The industry is feeling the repercussions. With Medicare contractors still scrambling to implement the new payment system, payment to some labs for these tests have simply stopped coming." In response to this major revenue cycle management disruption, G2's analysts announce the release of Medicare's New Payment System for Molecular Tests: Coding Methodology, Reimbursement Strategies, Rate Updates, an invaluable resource for everyone with a stake in the MDx marketplace. This new resource identifies the strategies and core intelligence needed for labs to take charge of this revenue category, providing crucial information on:
And, because new details are still becoming available as this new system unfolds, this reference will also provide:
"Labs need to be proactive now," says Daniel Houder, COO and Publisher, G2 Intelligence. "Based on our market intelligence, they would be well advised to begin a personal conversation with payers as soon as possible, and be ready with data on the clinical utilit of a test." He continues, "While some labs may be reluctant to share sensitive information, it is incumbent upon the industry to provide payers with the information they need to determine appropriate reimbursement. Labs that fail to act may find themselves out of the growing molecular diagnostic testing business altogether. This new resource includes proven ideas for effective payer engagement to succeed in the new system." Featuring crucial insight from diagnostic industry leaders, including:
To learn more, or to purchase this resource, visit http://www.G2Intelligence.com/MDxPaymentGuide, or contact G2 at 800-531-1026 ([email protected].) About G2 Intelligence Advancing the Business of Diagnostic Medicine G2 Intelligence provides timely, accurate, and trusted analysis of industry and market trends, legal and regulatory developments, and technology and innovation that directly affect the operations, financial performance, and competitive position of diagnostic testing laboratories and related medical services providers. G2 Intelligence has covered and reported on the diagnostic industry for over 30 years. Today, the company delivers topical and analytical periodicals, proprietary research studies, and custom advisory services, and through live and virtual events, facilitates industry meetings and information exchanges. G2 Intelligence is a division of Kennedy Information, LLC, a leading provider of professional markets analysis. Kennedy's parent company, Bloomberg (News - Alert) BNA, a wholly owned subsidiary of Bloomberg, is a leading source of legal, regulatory, and business information for professionals. Its network of more than 2,500 reporters, correspondents, and leading practitioners delivers expert analysis, news, practice tools, and guidance - the information that matters most to professionals. More information is available for you at www.G2Intelligence.com. |
