Industry Experts To Share Ideas For Organizational Success Amid Continuing Challenges Brought By COVID-19
SAN DIEGO – (BUSINESS WIRE) – In a future member of the Healthcare Financial Management Association (HFMA) online seminar, industry experts Jane Hermansen, head of outreach and network development at Mayo Clinic Laboratories, and Emily Adams, director of the ambulatory laboratory at Mount Carmel Health System, will join Mike Fauver, associate vice president of health systems at the house of XIFIN, to discuss proven strategies that can transform labs from spend-driven environments into profit centers. During this September 14 webinar, these experts will explore current barriers, organizational success initiatives and tools that participants can apply to their own operational strategies.
Laboratories – especially hospital outreach services – are essential to the healthcare continuum, especially as reported test volumes paint a heartbreaking picture of the increase in cases of Delta variants. This signals to public health leaders that the fight against the COVID-19 pandemic will continue through the fall and signals to laboratories that the high workloads and various challenges that laboratories have faced in meeting the demands. of tests, including capacity and personnel, are not complete. In fact, lab test volumes are nearly 2 times the benchmark, with COVID-19 testing accounting for around 42% of the volume, as reported by XIFIN Laboratory Volume Index. This behavior emphasizes the importance of keeping laboratories strong and why optimal activity is crucial to maintaining a financially sustainable health system.
“Achieving financial stability requires a holistic approach, including automation and system connectivity,” said Mike Fauver, vice president of healthcare systems at XIFIN. “A successful laboratory outreach program also provides healthcare systems with a means to increase client and patient engagement and improve both patient outcomes and revenue growth. It is only by taking all of these elements into account that laboratory organizations will achieve their goals.
register here toll-free and join the panelists on Tuesday, September 14 from 2:00 p.m. to 3:00 p.m. ET. During the webinar, “Why Lab Finances Are Critical and How to Transform Performance,” attendees will learn about implementing the right strategies and technologies to increase revenue and keep operating costs down, while preserving critical compliance requirements, and:
What obstacles need to be identified and overcome to facilitate a path to profitability.
Most effective initiatives and technologies to drive short-term revenue growth.
Tools available to contain excessive costs in the revenue cycle.
Why administrators and finance managers should pay special attention to the profitability of the laboratory.
XIFIN is a healthcare information technology company that harnesses diagnostic information to improve the quality and economy of healthcare. The company’s cloud-based technology facilitates connectivity and automation of workflows for accessing and sharing clinical and financial diagnostic data, connecting healthcare stakeholders in the delivery and reimbursement of care. The company provides cross-specialty sector analyzes, including its Laboratory volume index which provides a measure of lab test volumes across the United States. Its synthesis of diagnostic data allows comparison of hospital, genetic, pathological, routine laboratory, COVID-19 and antibody tests in key segments. To learn more, visit www.XIFIN.com, follow XIFIN on Twitter and LinkedIn, or subscribe to XIFI Blog.
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