Video-Glen Rose Medical Center discusses bringing in Extra Lab Work- July 2016Somervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


Video-Glen Rose Medical Center discusses bringing in Extra Lab Work- July 2016

31 July 2016 at 8:29:24 AM

Rough Transcript: 
Reynolds: Ron had contacted us and he referred this to us. This and I'll let Michael tell you about this in a minute.. this is a venture that this group is involved in and what they're doing, they're primarily dealing with organizations that have started a wellness program similar to what we had here.. you had to get a baseline lab 
for all the indicators. They're working with different facilities that provide these and also with physicians offices and they're looking for labs that they can refer these samples to and they will run the labs for them and bill them and then share the revenue. 
Honea: It's basically kind of acting as a mini-reference lab. .. The larger corporate labs that are out there, there's a lot of concern of getting your turn around times the way you want, they're wanting a one day to two day turnaround time. And with some of the bigger labs, getting those turnaround times and plus the customer service when there is an issue you're calling North Carolina to talk to someone and then you get transferred ten times and still can't get the answer. What they found is by going to the smaller labs you get better service and they can get faster turnaround times... so they're kind of using the smaller labs as a reference lab for this testing. We have the capacity and the capability to do that without any additional staff at this time. .. if the volume's up we could bring additional anolytes (sp?) on and serve our traditional patient population as well if they can provide the volume there but the only cost is a box of re-agent. .. a vast number of tests that we could bring in, very little cost associated with this. .. the volumes it just depends, we have the capacity to withstand a great deal of volume.... during down time.
Drake: You've spoken to them about the numbers they're sending your way?
Honea: Talking anywhere between 1000-3000 a month. right now we're doing about 10,000 tests a month. I believe we could take an additional capacity of 5000 without any additional personnel running evenings and nights, ti's just a matter there are ... getting them somewhat prepped and put on the analyzer.. we can load 'em up, we can put a hundred at a time on, and run through pretty quick so. Be really interested to see, so, to see what the volumes actually are... significant volume already in waiting. 
Drake: You'll have the potential to say no more?
Honea: If it gets to be too much .. if we have to add another person if its cost effective and we're making money off it.. as far as the automation and the analyzers we can load 'em up and let 'em run and they will handle the load.. there's no medicare or medicaid involved in this, it's all commercial insurance type things 
Reynolds: And since it is a contract, they way we referred to Kevin Reed for his evaluation, we received a preliminary letter back from them telling us they'd be looking at medicare/medicaid patients in and that clears a pretty significant hurdle on that. We reviewed the contract, I've asked Ron to take a look at it. As a followup we have a conference call in the morning with Trent Krienke who is in Kevin Reed's office to review the contract's specifics, there's a question about it, we're going to follow up on this some more, when we get a green light that we'll be able to move forward on this. ... It's one of those things from our perspective that ... opportunity to raise additional revenue and we want to make sure that we're doing things right and proper even though there's additional revenue involved. 
Drake: I think it sounds like a good deal with the exception that they take 75 percent of the revenue? 
Reynolds: The way it works is we do the billing, it's done through our contracts, either them or us witll provide the biller but still on our contracts and still on our tax id and our provider numbers. 50 percent goes back to the referring entity, whoever that is, the one that's providing the patients, 25 goes to this company for their management and for their marketing expertise, and 25 percent comes to us for running the test. In addition to that, we're reimbursed for our cost  of re-agents and any incremental costs that we have associated with it. The numbers are pretty big. We know of a hospital where they started this program .. and it seems to be working well for them. .. Let us complete our evaluation with the attorney and once we get a green light on that if you authorize Ron to sign on behalf of the hospital district on that. 
Drake: I'll make that motion. 



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