At a cost of $16,000 if you're paying cash, or around $6300 if you go through insurance.
That $6300 is what is charged,
not collected by physicians. And, I would think the vast majority of patients go through insurance vs paying $16K out-of-pocket. If the patient is still paying $6300 thru insurance, that's one heckuva cut by the insurance companies.
This article below is 2 years old and did a survey on collections for performing BMBx's. On average, IR groups charge $5254 per biopsy; but collect only $1392. Heme-Onc groups collect $1109 per biopsy. What do you think insurance companies are going to pay pathologists...? hint: not more than IR or heme-onc. So, even at the low end of collections ($1100 - 1400) for performing BMBx's, a pathologist can easily be on par with that revenue-wise from staying at their desk and pushing glass.
Bone marrow biopsy and aspiration: a departmental financial comparison in a rural hospital
But, let's break down the numbers. Doing some rough math: In 45min-1hr, most pathologists could sign out 3-5 trays of biopsies, let's use the lower end at 3 trays. Let's use GI as that is a lot of bread & butter for most practices. On the average tray, depending if a gap is put in between different patients or all 20 slots are filled with slides, and how many levels/slides per specimen, that is could be anywhere from 6 specimens up to 20 (1 slide per specimen filling up all slots). This varies depending how your department organizes them; so again, using an average of 10 biopsy specimens/88305s per tray (without stains). So, the professional component only reimbursement at the Medicare rate per tray (without stains) would be roughly $39. At (10 bxs per tray) ($39 per bx) (3 trays) = $1170. On the high end, if you bumped up your pace to sign out 5 trays, add a "normal" amount of IHC ordered, and higher reimbursement at a hospital with a better payor mix, maybe you could pull in $2500-$3000 (this is really higher end) in that 45min- 1hr from pushing glass on 88305s.
In other words, in the 45min- 1hr it would take for you to do a bone marrow, you could sign out enough slides that would equally or more profitable. Hence, the general consensus from Pathologists' revenue standpoint is that the procedural cost does not justify the means.