Formula for success – Putting the hospital lab under the revenue microscope

Description

Abstract: In-house hospital laboratories often operate inefficiently and below capacity —making them potentially ripe for juicing up revenues. This article lists several ways hospitals can expand their labs from mere diagnostic factories into revenue-stream generators, including developing outreach programs, tailoring up-sell programs for particular practice specialty areas existing in the community and cross-selling services to physicians already using the hospital for nonlab services. A sidebar looks at how to control lab costs.