Loss in metamaterial negative refractive lens is a major obstacle that limits its practical deployment in important applications such as sub-diffraction imaging, focusing & superlensing. Because of higher intrinsic loss, there has been intensified research in this area to find solution to this problem. Although initial theoretical and experimental efforts have shown various techniques to compensate these losses but most researches are still limited to theory and numerical simulations and only few experiments have been performed to validate the results. This paper discusses several schemes of loss compensation in metamaterial negative refractive index (M-NRI) lens. The formula for transmission loss has been established for flat uniaxial M-NRI lens of thickness d, by using Drude-Lorentz model of permittivity ( and permeability ( .The relationship between transmission loss and S21 has also been derived. The actual M-NRI lens, in a realistic configuration, has yet to be developed