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PAMA - Jan 2018 - Protect American medicare Act

Discussion in 'Millennium Laboratories' started by anonymous, Jun 28, 2017 at 2:53 AM.

  1. anonymous

    anonymous Guest

    Does any one know about this new PAMA law that is going to cut approx 50 % from the curent medicare rates effective Jan 1 2018 in the Toxicology segment ??
    I had a doctor ask me today "if it is going to force all Tox labs out of business "

    XIFIN tapped its data base to look at the data that its client labs will report to CMS for 20 high-volume lab tests. It calculated a weighted average price that private payers paid for these four lab sectors when compared with the Medicare lab fee schedule, as follows:


    Independent labs are paid 19.6% less.
    • Hospital labs with NPIs are paid 25.6% more.
    • Molecular and genetic testing labs are paid 27.3% more.
    • Pain management and toxicology labs are paid 50.4% more.
    If this actually happens are we going to go out of businees!! After looking up PAMA It scared the #%$% out of me!

    I am sort of new and any honest feeback will be greatly appreciated??

    Thanks,
     
  2. anonymous

    anonymous Guest

    Yes, after this there will not be a sinlge toxicology lab left in the US. I guess since you say there will not be a sinlge tox lab left everyone can go smoke and do as much drugs as they want since there will not b eany labs left to do the testing.
     
  3. anonymous

    anonymous Guest

    None of Xifin clients matter. Quest and Labcorp will be the deciding factor. CMS can only reduce prices by 10% each of the first 3 years and then 15% the next 3 years. In 6 years everyone will be getting Medicaid rates. My lab will be fine as we have lived in the Medicaid sector for years and have always turned a profit. 90% of all tox labs will be out of business in 3 years and no one will buy them Good riddance to the scum of the lab industry!
     
  4. anonymous

    anonymous Guest

    If the Medicare rates drop...doesn't that mean the Medicaid rates will drop also? I can assure you a heavy Medicaid business model cannot last.
     
  5. anonymous

    anonymous Guest

    A heavy Medicaid business model can last It depends on how you structure your lab. If you have a huge sales department, huge billing department and huge executive structure you will fail. You keep costs low by automating, running LEAN in all departments and have a great management staff that buys into your model. You make less per sample, but run 5 times as many samples as other labs. My lab can average $45 for a drug screen with confirmation and still pull a 35% EBITDA! Most of the labs that came into existence after 2004 when reimbursements were high, don;t know how to function like my lab. Also 1099 sales reps do not work in my model. W-2 reps with salary and 10% commissions for 12 months then 4% for life of account work. They make less per specimen, but the volumes are very high and they all make in the 150k+ range. Labs like mine will survive just like we have for that past 30+ years!
     
  6. anonymous

    anonymous Guest

    Are you hiring ???
     
  7. anonymous

    anonymous Guest

    Yes we are hiring. Post your cell or email and I will have someone reach out. I will not post my number for fear of exposing who my lab is. I like to stay anonymous as we have been flying under most labs radar for 30 years!
     
  8. Best Med Rep

    Best Med Rep new user

    Joined:
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    Bestmedreps@gmail.com
     
  9. anonymous

    anonymous Guest

    Still hiring?
    Bestmedreps@gmail.com