What does sequestration mean for the clinical laboratory?
As you listen to the news of the looming budget cuts that may occur at midnight tonight, the Government Affairs Committee and staff want to explain the impact on our practice and on the institutions in which we work. The "sequestration" law includes an automatic 2% cut to the reimbursement of all Medicare providers including the clinical laboratory fee schedule. For us, this cut comes on top of all the recent cuts that we have been experiencing since 2010. And will add to the 2.95% cut that was implemented on January 1, 2013. So the total cut in our reimbursement to 2013 will be 4.95% if Congress and the President cannot postpone this before this evening.
For hospitals the cuts add up because each department will have its own 2% decrease. It is projected that the cumulative impact on hospitals will be as much as 40%. The effects on your institution will vary widely; therefore your CEO/President/CFO will be the best source of information for that. Many healthcare institutions have been bracing for these cuts by freezing positions and any plans for new services or business during 2012. We expect that cautious approach to continue in 2013 because there are other issues to be addressed by Congress as the 2013 budget is considered. We will be discussing all of this at the 2013 Legislative Symposium, March 18 & 19 at the Sheraton Crystal City.
Don Lavanty,
ASCLS Legislative Consultant
Elissa Passiment,
ASCLS Executive Vice President
For hospitals the cuts add up because each department will have its own 2% decrease. It is projected that the cumulative impact on hospitals will be as much as 40%. The effects on your institution will vary widely; therefore your CEO/President/CFO will be the best source of information for that. Many healthcare institutions have been bracing for these cuts by freezing positions and any plans for new services or business during 2012. We expect that cautious approach to continue in 2013 because there are other issues to be addressed by Congress as the 2013 budget is considered. We will be discussing all of this at the 2013 Legislative Symposium, March 18 & 19 at the Sheraton Crystal City.
Don Lavanty,
ASCLS Legislative Consultant
Elissa Passiment,
ASCLS Executive Vice President
Testing.com
WHAT DOES MY LABORAOTRY TEST MEAN???
Testing.com (formally Lab Tests on Line) is an award-winning health information web resource designed to help patients and healthcare professionals
understand the many lab tests that are a vital part of medical care. Since its launch in 2001, It has helped millions of users to learn about their tests and navigate this confusing landscape by providing non-biased and thorough explanations of tests available, as well as reviews on emerging testing brands.
WHAT DOES MY LABORAOTRY TEST MEAN???
Testing.com (formally Lab Tests on Line) is an award-winning health information web resource designed to help patients and healthcare professionals
understand the many lab tests that are a vital part of medical care. Since its launch in 2001, It has helped millions of users to learn about their tests and navigate this confusing landscape by providing non-biased and thorough explanations of tests available, as well as reviews on emerging testing brands.