Laboratory Testing Advice

[diagnostico]

Hello everyone,
we are looking to expand our laboratory testing offering. We currently offer urine drug testing and want to expand our offering into more lucrative areas. What can you recommend that we consider that offers decent reimbursement levels? We are in NJ and I know that rates vary widely depending on state, but we are curious to know what is out there... Any help that you could provide would be greatly appreciated.

[RichardP]

No one can answer that question for you until they know what level of complexity your lab is certified for.  The test you can perform depend on what you have been certified for.  The answer I gave at the following link should also be good for helping you figure out your own answer for this current question you just asked.

http://www.medicalbillinglive.com/members/index.php?topic=7242.msg22256#msg22256

[diagnostico]

we are a high complexity laboratory.

[RichardP]

Thanks.

You should be able to take your pick of the tests contained in this list then (from my other response that I linked to).  You can find reimbursement rates for your state in the Lab Schedule at that link.  The question is, what kind of market is there in your location for whatever tests you might offer?  I don't think anybody here can answer that question for you.

http://www.cms.gov/Medicare/Medicare-Fee-for-Service-Payment/ClinicalLabFeeSched/clinlab.html

[Dede19]

Quite honestly, the CLIA Waived tests bring the highest profit margins, unless you are a huge practice with a ton of labs ordered.  The machines and reagents, and the cost of hiring a lab tech is tremendous, compared to reimbursements... especially Medicare!