Webinar: Why Lab Finances Are Critical and How to Transform Performance

Traditionally, the lab is viewed as a cost center, providing a necessary service, even when operating an outreach program. In this webinar, panelists from industry leaders including the Mayo Clinic, Mount Carmel Health System, and XiFin, elucidated proven strategies for morphing into a profit center.

Healthcare Financial Management Association (HFMA) hosted a live 60-minute webinar for members only titled, “Why Lab Finances Are Critical and How to Transform Performance,” that provided first-hand knowledge of how their peers are implementing the right strategies and technologies to boost revenue and rein in operating costs, while safeguarding crucial compliance requirements.

Key Takeaways:

• Why administrators and finance leaders should pay attention to lab profitability
• What roadblocks must be identified and overcome to facilitate a path to profitability
• Which initiatives and technologies are most effective in driving near-term revenue growth
• What tools are available to contain excessive costs in the revenue cycle

Speakers

Jane Hermansen

Manager, Outreach and Network DevelopmentMayo Clinic Laboratories

Mike Fauver

AVP, Health Systems, XiFin, Inc.

Emily Adams

Director of Outpatient LaboratoryMount Carmel Health System