COVID-19 revenue concerns to start anticipating now

April 23, 2020

With non-stop updates about coronavirus testing and the pandemic in which we find ourselves, the business of your lab is still paramount to your survival. We have been in contact during this and we want you to know that we, like you and your lab, will be here when this is over. Given the changes, and challenges, in the lab billing processes and procedures that have happened over the past two months, Vachette is making a prediction that you will see another impact in late summer or early fall. Yes, we understand that your volume has decreased and that plays a huge factor in your daily decision-making process, but we should all start to consider what the effects will be when they open back up and your volumes return to pre-pandemic levels. Some of the items to look at now are:

  • Has your revenue followed what we predicted with the COVID Curve? (See below)
  • How is your AR in relation to prior levels?
  • Have you been paid appropriately for the COVID testing you’ve performed?
  • Do you have questions about the how the COVID pandemic has affected your income?  Do your numbers make sense?

These are the concerns that you will need to start anticipating now. Like we wrote above, we will be here and we want to help you successfully navigate your way back to the level of revenue you have so deservedly earned through this unprecedented time.  

Who's reviewing revenue strategy with you at this time?

Are you billing all the correct CPT codes? You’d be surprised at what you might be missing. We will review your Fee Schedule/Charge Master at no cost.

That’s right. For free.

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