Accumen’s 2018 Relative Value Unit System™
Accumen’s 2018 Relative Value System™ was developed specifically for the clinical laboratory through rigorous statistical analysis and research as a test complexity measuring process with a relative weight or complexity assigned to each laboratory test as defined by the American Medical Association Current Procedural Terminology (CPT) codes, Pathology and Laboratory (80047-89398, 0001U-0017U).
Similar to the case mix index (CMI) for the acute care hospital inpatient setting, the RVU System™ provides critical data elements to help laboratory managers isolate key operational and financial trends within their laboratory, assisting with budget preparation, expense variance analysis, and forward-looking strategy. Originally developed by Chi Solutions, Inc., an Accumen company, the RVU System™ is now enhanced and updated for 2018, this system sets the standard for excellence.
Two of the most important factors influencing laboratory expenses and performance are volume and test complexity. While the impact of volume is widely understood, the influence of test complexity is often not recognized. We are pleased to launch the 2018 RVU System™ that encapsulates the following:
- Weighted RVUs for all laboratory tests, as defined by the American Medical Association Current Procedural Terminology (CPT)
- New Testing Technologies
- Molecular Precision Medicine Testing
- Complexity of Testing
- Pre-Analytical & Testing Requirements
- Clinical Turnaround Times
- Reimbursement and Cost of Testing
- Automated versus Manual Testing
- Current Medicare Clinical Laboratory Fee Schedule (CLFS)
- Specimen Type and Processing Effort
Accumen’s RVU System™ Creates Value for Your Clinical Laboratory Through the Following Applications:
- Actual to Budgeted Expense Variance Analysis
- Creation of Internal Fee Schedules for Shared Testing
- Critical Decision Support
- Outreach and Capitation Contract Profitability Analysis
- Managed Care Contracting Analysis
- Cost Accounting and Allocation Purposes
- Development of Outreach Fee Schedules
- Workload Measurement and Supply Chain Performance Comparison
Download the Relative Value Unit System™ Guidelines and Suggestions for use for more information.
Buy Accumen's Relative Value Unit System™ Now!