- Mick Raich, President and CEO, Vachette Pathology
- Jeffrey Pearson, M.D., System Medical Director, Bronson Hospital Laboratories
- Christopher Jahnle, Co-Founder, Haverford Healthcare Advisors –
Why all surgical pathologists will be paid less money during the next 24 months and what smart practice administrators can do to protect and increase pathologist income.
Today’s reality in the anatomic pathology profession is the swift repricing of both technical component (TC) and professional component (PC) services. Payers large and small, and payers private and public are using new lab pricing models to reduce payments made for anatomic pathology services.
Not only does this mean less money for pathology services today, thus creating severe financial stress on many smaller pathology groups, but this repricing is a major factor encouraging the consolidation of private pathology group practices.
When you register to attend “How Payers Are Repricing Anatomic Pathology: Your Financial Present and Your Pathology Group’s Future” on Thursday, September 28, 2017, three expert speakers will give you a comprehensive understanding of this repricing trend, its consequences for both private practice pathology groups and pathology laboratory companies, and steps you can take to protect, and even increase, pathologist income.
Hear about how private health insurers are using such companies as AIM Specialty Health, Avalon Healthcare Solutions, BeaconLBS, InformedDNA, and eviCore in ways that restrict how pathology groups can access patients in different health plans and be paid for their testing services. Learn more about the disruptive and transformative new payment models coming to the Medicare program.
Another major source of anxiety for many pathology groups is the increased number of audits performed by both Medicare program auditors and private health insurers. Pathologists and practice administrators participating in the webinar will learn the factors most likely to trigger payer audits. These can include high error rates on claims and treating self-pay patients differently than insured patients.
Next, hear an actual business case study example from an M.D. who has lived through having his parent health system complete multiple acquisitions over the past few years. Each time, the pathology group associated with the acquired entity had to be integrated with his health system’s existing pathology group practice. Experiences will be shared regarding how to assimilate acquired laboratories, practice utilization management, and leverage success to grow the practice and obtain favorable part A contracts.
In addition, during the conference you will obtain unique insights into how buyers value and establish a price for a pathology group that they want to acquire. The current market for pathology group practices will be discussed, as well as the factors that influence the valuation of one pathology group over another (even though the number of pathologists and test volume may be similar). Steps that every pathologist business leader and practice administrator can take to make their group more valuable to prospective buyers will be identified.
Of equal importance, the webinar will cover how different repricing models used by Medicare and private payers will change the valuation of pathology groups in coming years, and what impact these changes will have when buyers are seeking to purchase a pathology group.
This is an essential session for pathologists, pathology practice administrators, and billing managers alike. Order your CD today. And remember that your entire team in one location can participate with you when you register.
Mick Raich is the founder of Vachette Pathology and has been its President and CEO for the last 11 years. He is a nationally recognized consultant in the business of pathology and laboratory reimbursement and practice strategy. Mr. Raich spent his entire 32-year career in healthcare. His experience began in direct patient care, bereavement counseling, and hospital management and progressed into pathology billing sales and management, pathology practice sales and marketing, revenue cycle management, and strategic consulting.
Mr. Raich has grown Vachette into a nationwide consulting and management firm that specializes in working with independent labs, hospital-based pathology practices, hospital and health systems, and university pathology groups. Vachette provides services to more than 1,600 pathologists and 64 clients nationwide.
Jeff Pearson, M.D., is currently the System Medical Director for the Bronson Hospital Laboratories, overseeing four Bronson owned hospitals and one affiliated hospital in Southwest Michigan. He is also the President of Pathology Services of Kalamazoo. During his tenure at Bronson he has helped facilitate the acquisition and assimilation of two hospital laboratories and one for-profit laboratory. The pathology practice has doubled in size and developed a high degree of sub-specialization.
Dr. Pearson was a founding member of the blood conservation program at Bronson that dramatically reduced the incidence of both surgical and inpatient blood transfusions. He also has been active in promoting and devising effective methods of laboratory utilization and has been a featured speaker at multiple national conferences on the topic.
Christopher Jahnle co-founded Haverford Healthcare Advisors in 1994. He has over 30 years of transaction advisory and business valuation experience. During Jahnle’s career, he has worked on numerous business valuation and transaction advisory engagements involving over 1,400 business entities in the healthcare services industry. He has originated and completed transactions with a combined value in excess of $2.5 billion.
In 2006, Mr. Jahnle co-founded Aurora Diagnostics, LLC (www.AuroraDx.com), a national anatomic pathology laboratory company headquartered in Palm Beach Gardens, Florida. Today, Aurora Diagnostics employs over 1,000 individuals, including over 100 pathologists, and has annual net revenue approximating $250 million. From 2006 through 2014, Haverford initiated and completed 26 acquisitions of pathology practices and laboratories on behalf of Aurora Diagnostics as its exclusive acquisition advisor.
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Here is just some of what you’ll learn during this in-depth 90-minute conference:
- How companies often self-described as “genetic test benefit management companies” determine which pathology groups get to be in-network, which molecular and genetic tests will be reimbursed, and how they create and manage pre-notification and prior-authorization systems that M.D.s must use if the labs performing the molecular and genetic tests are to be reimbursed by their client payer
- How MACRA and MIPS will be most disruptive to how individual pathologists are paid by Medicare, and how PAMA and bundled payment arrangements will be most disruptive to existing fee-for-service prices that the Medicare program pays for lab services
- New and insidious methods payers are using to quietly do “take backs” by paying less than contract amounts for claims with certain CPT codes
- Trends in private pathology groups across the nation, and lessons to be learn from the various possible options when finances erode and the group stands to lose contracts with key hospitals and managed care plans
- Issues of partner income, productivity, retirement plans, and benefits when a pathology group integrates with another, along with governance and managed care contracting issues