What Not To Do
In 2004, when no one knew anything about in-office pathology, IOP management was involved in providing some of the first compliant pathology laboratories.
Attempting to install an in-office pathology lab by yourself is a foolhardy proposition. We have seen dozens of prospects lose more than a million dollars per year in new revenues while they struggle to set up a pathology lab.
Today low-cost “instant experts” are jumping into the market. Bands of histotechs, med techs, pathologists, equipment manufacturers, test brokers, and newly minted private billing consultants all claim they have the experience and expertise of IOP. Match the newfound “instant experts” track record to IOP’s and you will quickly discover there is no comparison.
Before attempting to install a lab on your own, or go the low-cost consultant route, be sure to consider the following:
Ask for a full financial proforma indicating all revenues, costs, and profits to see how their lab model will work in your practice.
Request the name of the wholesaler they use to procure lab equipment and ask if it is used or “reconditioned.”
Ask how many projects have been completed in 90 days.
Building and equipping a new lab in just the beginning. With IOP, these are the services provided beyond the lab and equipment:
1 - Credentialing and reimbursement services so you get paid by managed care plans
2 - Lab Information Software (LIS) for reporting and billing (important for pathologist review of previous case results and CLIA inspection/TJC accrediation)
3 - IOP lab oversight (to benchmark your practice on a quarterly basis)
4 - Histotech recruitment and replacement
5 - CMS-compliant pathology contract for services (no need to give away the entire PC billings to any pathology group, ever)
6- Yearly CMS regulatory review to keep you in compliance
7- Certified compliance monthly inspections with written reports by local IOP Tech Consultants until your CLIA inspection and quarterly thereafter
8- Financing the entire project with zero money down and a six-month grace period
9- Pathologist recruitment per CMS compliance guidelines at competitive local market rates for pathology coverage
10- Ongoing advice on reimbursement, operations, technology transfer, legal, and business issues to maximize the return on your investment while keeping you compliant
1340 Lakewood Drive
Lake Forest IL, 60045
(p) 800. 280.3785