TRG Healthcare Announces New Ways to Realize Opportunities for Revenue, Cost Management and Care Coordination with Laboratory Transformation Services

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Laboratory Transformation is a necessary process in order to succeed in a highly regulated environment that will impose new global rate structures. It is a comprehensive examination of clinical laboratory services to improve the quality of services to physicians, gain cost efficiencies, and add revenue to hospitals and health systems through reorganization of the delivery of lab services.

Hospital consolidation is on the rise. With it come new economies of scale and changing dynamics with insurers. TRG creates a business case for some of today's provider organizations to reclaim control of lab services.

Bringing lab services back in house is now more financially feasible for growing health systems. It will help reverse commercial lab incentives of overutilization.

Health system that are expanding and looking to evolve within the context of the emerging market should rethink lab service arrangements.

What can Lab Services Transformation mean?

Evaluating lab services among multiple hospitals and bringing many services in house will provide opportunities to achieve:

    *Economies of Scale - Consolidated systems achieve critical mass with potential to increase efficiencies in equipment, staff, supplies, IT and facilities. Average savings range from 10% to 20% of total laboratory expenses.

     *Gains Through Control - Managing use, mix and pricing of lab services offers a means to enhance revenue and coordinate care, providing the building blocks for utilization management and population-based reimbursement.

     *Contracting With Insurers - Consolidated systems provide the size needed as an incentive for insurers to contract directly.

     *Service to Physicians - In-sourcing and consolidation of laboratory services result in improved information access for medical staff.

TRG Healthcare Laboratory Services:

TRG Healthcare is objective: Bringing outside knowledge of what works where, why and how and having the ability to translate that knowledge into actions.

TRG Healthcare understands the complexities associated with organizational change: All major stakeholders are incorporated into the process to drive change.

TRG Healthcare has direct experience with successful system-based laboratory operations as well as start-ups. The TRG Laboratory team has worked with and for national laboratory services firms and has had direct experience with all facets of laboratory services.

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Patricia Lee
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