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Navigating the Changing Landscape

August 23, 2023

Strategies for Labs and Pathology Practices in the Post-COVID Era

The COVID-19 pandemic placed an unprecedented burden on labs and pathology practices as they became the backbone of testing efforts. But it also presented an opportunity to swiftly enhance revenue with an influx of testing services that catered to various industries beyond healthcare, including schools, workplaces, travel, and event planning. 

This diversification of testing services allowed labs and pathology practices to tap into new markets and establish partnerships with organizations seeking reliable testing solutions to ensure the safety of their operations. 

However, with the decline in cases and the end of the COVID-19 Public Health Emergency, the focus has shifted to navigating the post-COVID world and prioritizing the fundamental parts of your business. As labs and pathology practices look beyond the pandemic, a crucial aspect comes into focus – ensuring the core business is being reimbursed accurately for the services rendered.

coronis health lab technician using a pipette and petri dish

Coronis Health Laboratory & Pathology understands the challenges labs and pathology practices face during this transitional period. Most labs and pathology practices simply don’t collect enough for services rendered — is yours? COVID inflated revenue for these practices, but the honeymoon is over. It’s time to shift focus and ensure you get paid for your hard work. 

Our team of former lab professionals and revenue cycle experts offer personalized guidance to help your practice thrive in the changing healthcare landscape. Schedule a no-cost financial health checkup to uncover hidden revenue and ensure complete reimbursement for your services.

Post-COVID World for Labs and Pathology Practices

When the COVID-19 pandemic emerged, labs and pathology practices quickly adapted to meet the testing demand. Their dedication and tireless efforts played a crucial role in supporting public health. While these efforts were necessary for public health and lucrative, they also shifted focus away from fundamental testing services like molecular diagnostics, toxicology, and other core revenue streams. 

coronis health laboratory microscope

With the decline in new cases, exploring new opportunities beyond COVID-19 testing is essential. 

Coronis Health recognizes this need and assists labs and pathology practices in expanding their menu of testing services, prioritizing their core competencies, and identifying more profitable lines of business. By conducting a no-cost financial health checkup, Coronis Health helps identify areas for improvement and uncovers hidden revenue streams that may have gone unnoticed.

Uncovering New Revenue Streams in a Post-COVID World

In the wake of the pandemic, labs and pathology practices must reflect on their future and seek ways to support their operations beyond COVID-19 testing. This involves:

  • Reevaluating business strategies
  • Identifying alternative revenue streams
  • Optimizing operational efficiency

Coronis Health encourages labs to pivot away from COVID testing and refocus on their core competencies to maintain financial growth. 

By incorporating new modalities, labs can replace revenue lost from COVID testing. These modalities include: 

  • Drug and toxicology testing
  • Sexually transmitted disease (STD) testing
  • Genetic testing
  • Rapid diagnostics

Adapt and Prosper: Personalized Lab & Pathology Solutions for Success in the Post-COVID Era

In the ever-evolving healthcare landscape, labs and pathology practices must adapt and prosper to thrive. Coronis Health Laboratory & Pathology is committed to providing personalized solutions that allow clinics to adopt new modalities, enhance efficiency, and improve revenue collection. Based on our extensive experience managing various types of labs and pathology practices, Coronis Health helps clients broaden their menu of testing services and identify more profitable lines of business.

Experience Meets Expertise with Coronis Health

Coronis Health’s team understands the complexities of revenue cycle management (RCM) for labs and pathology practices. Many of our leaders have worked in and successfully managed different types of labs and pathology clinics. This experience allows Coronis Health to stay one step ahead of industry changes, providing labs with invaluable insights and guidance. 

Leveraging advanced artificial intelligence and superior accounts receivable (A/R) processes such as Ai4AR™ and RCM Clarity™, Coronis Health improves cash flow and ensures accurate revenue capture.

coronis health laboratory medical worker at station

A Client-Centric Approach for Building Long-Lasting Partnerships

Coronis Health values transparent communication and collaborates closely with clients to develop strategies that explore new testing services and avenues, leading to healthier revenue cycles. Their client-centric approach fosters long-lasting partnerships built on trust and shared goals.

Data-Driven Decisions to Drive Meaningful Results

Coronis Health employs proprietary analytic tools to identify and close gaps in the RCM process, enabling labs to boost revenue and make informed, data-driven decisions.

As labs and pathology practices navigate the post-COVID era, they must adapt to a changing healthcare landscape. Coronis Health Laboratory & Pathology offers invaluable guidance and personalized solutions to help labs and pathology practices thrive in this new territory. 
Schedule a no-cost financial health checkup with Coronis Health today and embark on a journey toward capturing revenue and achieving growth in the evolving healthcare industry.

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