Lab Management Fees

[gungho]

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Curious if anyone has any input as to "typical" lab management fees paid to pathologists on a per hour basis, or, if lump sum, what the amount is for how many hours provided? Or, if anyone knows where I can find the info? I'm in the midst of renegotiating with a hospital and wanted to get an idea where I currently fit. Thanks.

 

[pathstudent]

Curious if anyone has any input as to "typical" lab management fees paid to pathologists on a per hour basis, or, if lump sum, what the amount is for how many hours provided? Or, if anyone knows where I can find the info? I'm in the midst of renegotiating with a hospital and wanted to get an idea where I currently fit. Thanks.

The federal registar says a medical lab director is valued at 120k a year or thereabouts.

 

[gungho]

is that for full-time or thereabouts?

 

[pathstudent]

is that for full-time or thereabouts?

I was wrong. It says a lab director should make 110 an hour which works out to 220 a year if you are working 40 hours a week 50 out of 52 weeks

Some hospital administrators use that dollar figures times the number of hours pathologists spend on part a activities times the percent of their revenue that comes from Medicare to calculate a payment to pathologists for managing the lab.

Pathologists bill private insurance and self pay patients for the professional component of the clinical lab (pccl). Over the last decade many insurance companies have stopped paying it saying it is part of the drg.

 

[LADoc00]

The federal registar says a medical lab director is valued at 120k a year or thereabouts.

Huh?

Did you pull that completely out of your butt?

The "federal registar" says no such thing.

Medical directorship fees are dependant on the number of hours workedxbase amount dependant on geographic location. They tend to go from 50K/per year per pathologist all the way up to 400K/year per pathologist...

The database for medical lab directorship compensation is well known to me. Gungho you should get some advice on this from a pathology related business advisor who you can confidentially give your: 1.) total lab volume 2.) estimated lab total test charges 3.) estimated lab total profit after expenses
for example, a hospital is more than willing to pay more for a medical director overseeing a lab that generates 1 mil/year in profit vs. one that comes close to break even..

 

[LADoc00]

I was wrong. It says a lab director should make 110 an hour which works out to 220 a year if you are working 40 hours a week 50 out of 52 weeks

Some hospital administrators use that dollar figures times the number of hours pathologists spend on part a activities times the percent of their revenue that comes from Medicare to calculate a payment to pathologists for managing the lab.

Pathologists bill private insurance and self pay patients for the professional component of the clinical lab (pccl). Over the last decade many insurance companies have stopped paying it saying it is part of the drg.

I would NEVER work for 110/hr. Ever. Even the state of brokeazz California pays me 135/hr to audit doctors going for review of restriction of their medical license...

That number is way off unless it is an employee position with benefits or something.

 

[gungho]

Huh?

Did you pull that completely out of your butt?

The "federal registar" says no such thing.

Medical directorship fees are dependant on the number of hours workedxbase amount dependant on geographic location. They tend to go from 50K/per year per pathologist all the way up to 400K/year per pathologist...

The database for medical lab directorship compensation is well known to me. Gungho you should get some advice on this from a pathology related business advisor who you can confidentially give your: 1.) total lab volume 2.) estimated lab total test charges 3.) estimated lab total profit after expenses
for example, a hospital is more than willing to pay more for a medical director overseeing a lab that generates 1 mil/year in profit vs. one that comes close to break even..

thanks, LADoc00, i think i've got someone in mind for the business advisor, but just curious how many hrs/month you see comprising compensation approximately 50K/yr? thanks again.

 

[pathstudent]

I would NEVER work for 110/hr. Ever. Even the state of brokeazz California pays me 135/hr to audit doctors going for review of restriction of their medical license...

That number is way off unless it is an employee position with benefits or something.

You are not working for 110 an hour. It is how hospital admins figure out how much part A money you deserve for lab director fees based on timing studies and what percen tof the hospitals income is from Medicare. Of course it is slanted towards the hospital admins. Basically from what i have heard you basically get nothing for managing the lab except the right to bill for the AP. you can charge private insurance , but what insurance companies still pay for that? From what I hear almost none of them

How do your admins figure out what to pay you for part A activities?

 

[LADoc00]

thanks, LADoc00, i think i've got someone in mind for the business advisor, but just curious how many hrs/month you see comprising compensation approximately 50K/yr? thanks again.

50K is the extreme low end. Once again, this is all negotiable such that hrs/month will not correlate well in all circumstances.

For example, Ive taken over contracts where Ive increased the directorship fees 5x from a prior director and done the same level of work.

I will say I charge the lower end of directorship fees on a per hour basis from my associates at surrounding facilities and my rate is typically 185/hr with very strict minimum hours billed etc similar to accounting and law billing (which I spent time familiarizing myself with).

My goal is to get compensation to minimum of a 2K for a full day. 2K/day is a my break even point for time value vs. typical practice activity.

Such that if you were to hire me, I would charge you a minimum of 2K/day+expenses with assumption I was not further billing for additional services. Make sense?

 

[gungho]

yep, that helps with some parameters. thanks.