[Case Study] TriCore Reference Laboratories Transforms to the Clinical Lab 2.0 Model with InterSystems HealthShare and Rhodes Group Software
The Centers for Medicare and Medicaid Services (CMS), through the Protecting Access to Medicare Act, is cutting reimbursement for laboratory tests by 10% in 2018, 2019, and 2020. It then cuts an additional 15% the next two years. For most labs, already operating on thin profit margins, this is an existential threat. TriCore Reference Laboratories, a clinical lab serving the State of New Mexico, didn’t want to just remain viable by cutting costs. Instead, TriCore is transforming to a Clinical Lab 2.0 business model, with extended services to increase its value and revenue as an integrated member of the care team. This transformation relies on InterSystems technology and software solutions from TriCore’s Rhodes Group division. Read how analytics using patients’ real-time longitudinal laboratory results, and claims data, yielded higher value information and a new revenue streams for TriCore reference laboratories.