A shrinking pool of cash to pay for medical care, the decline of private practice medicine, and recently enacted federal legislation will combine to put the squeeze on medical laboratories. That was the stark and sobering message delivered to the hundreds of administrators, pathologists, and other lab professionals who gathered in New Orleans in late April and early May for the Executive War College.
The bearer of the bad news was Robert L. Michel, editor-in-chief of The Dark Report, which hosts the annual meeting. Michel said the biggest threat facing labs is implementation of the Protecting Access to Medicare Act of 2014. The legislation, signed into law April 1, contains a one-year delay in big Medicare physician pay cuts due to the sustainable growth rate formula. But it also includes major changes to the Medicare clinical laboratory fee schedule that will pose a huge challenge to labs, Michel said.
My latest in CAP TODAY’s Put it On the Board section. Read the whole shebang.