Common Barriers to Success
- Construction Delays
- Working with a General Contractor who is unfamiliar with code/state requirements or in general unable to meet deadlines resulting in financial impact
- Unsustainable Case Selection
- Stay up-to-date on reimbursement trends and regulatory updates
- Conduct feasibility study by zip code
- Reimbursement & Coding Errors
- Claims rejections can cause significant financial impacts
- Delay in entering dictation notes means physician is relying on memory which leads to inaccurate reporting
- Overstaffing
- Successful OBLs usually start out fairly lean
- Lack of focus on patient outcomes/care
- MACRA/MIPS regulations and value-based care are here to stay
- There is increased scrutiny by regulatory authorities and societies to ensure best practices
- Lack of dedicated/committed lead physician to run the lab
- This venture is not for the faint-hearted or someone who doesn’t have a vested interest in the success of the lab
- Limited Efforts in Marketing
- A standalone OBL/ASC typically thrives on the basis of referrals, grassroots marketing campaigns
- Physicians should keep a close eye on their case volumes to ensure meeting pre-set targets
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