Understanding Laboratory Billing Systems
Running a medical lab is not a joke, and will keep you on your toes at all times. If you compare your medical lab to a physician’s office, or other places for the sick, then you will notice that there are more patients in your lab than in these other places. Many of these patients go to the medical lab in order to have tests done to them as ordered by their doctor.
Medical staff working in a lab is not the same as staff working in a doctor’s office. In a medical lab, your staff takes samples for analysis but in a doctor’s office, they don’t do this kind of stuff. There is more foot traffic inside a medical lab than in a doctor’s office.
In your medical lab, in order for the staff to work quickly and efficiently, there is a need to computerize your operations as much as possible so that everything will be kept organized. IF your lab uses a billing software, your financial operations can improve and can help you to quickly collect more payments.
Labs providing medical testing for patients would benefit from a laboratory billing system since it will help improve their lab’s financial standing and help the staff work more quickly. This billing system is unlike billing systems of other organizations since it takes into account the unique requirements of labs.
The following is a summary of how the laboratory billing system works.
The software can be used for scheduling appointments with patients in the office or over the phone. In order to avoid surprises after the testing, patients are pre-tested by the system for insurance eligibility.
The system allows you to view patient’s claims in real-time. Editing and resubmitting denied claims directly from the software is possible. Since revenue will be coming faster, then this ensures that your lab remains profitable.
With the help of you lab billing system’s reporting feature, you can easily report your PAMA data. Now with the lab billing software reports that you will be needing for your weekly, monthly, quarterly and annual meetings can easily be generated. The lab billing system can also handle accounting and sales commission data and financial and management KPIs with ease.
Your lab billing system also includes Laboratory Information Systems or LIS. All your lab data can have a single solution with the LIS integration. Because of data conversions from existing systems, it has become possible to integrate with other systems in your facility.
Billing software and billing services are the two varieties of laboratory billing solutions you need to focus on. In order to choose whether you will commit to billing software or billing services, it is important to compare the two varieties.
Laboratory billing software provides numerous efficiencies and improvements over paper-based and generic software solutions. If you opt for laboratory billing services, then you outsource your billing to an expert third party. There will be faster processing of claims since their staff is dedicated to lab billing.
find out more! Ibex
lab RCM laboratory medical billing
Ibex more info.
Ibex this lab billing service
read more here find out more!
Ibex lab RCM
laboratory medical billing Ibex
more info. Ibex
this lab billing service read more here