What is a Laboratory Billing System?
If you are running a medical lab, then you will definitely be busy with so much to do. Your lab will be busier than a physician’s office, urgent care facility, or other treatment places. Patients needs tests and doctors will order them to the lab to take these tests and so your lab will be filled with patients throughout the day.
Medical staff working in a lab is not the same as staff working in a doctor’s office. Taking samples and analyzing them is the main job of staff in a medical lab but the staff in a doctor’s office have a different job. There is more foot traffic inside a medical lab than in a doctor’s office.
Your medical lab team can work efficiently and quickly with computerized operations that can keep everything organized. You can collect more payments faster with a billing software designed for labs.
A laboratory billing system is a solution that is designed to improve your lab’s financial standing and help the staff work as quickly as possible. Laboratory billing systems are not like medical practice billing systems since they are designed uniquely for lab requirements.
Here is an overview or how laboratory billing systems work.
When patient’s in the office or when patient’s call to schedule appointments, the software can be used. The patients are pre-tested by the system to determine their eligibility for insurance so that there will be no surprises after the testing.
All your patient’s claims can be viewed in real-time. Editing and resubmitting denied claims directly from the software is possible. The quick way that revenue comes in makes your lab remain profitable.
Your lab billing system has a reporting feature that can be used to report your PAMA data. Since you need to generate reports for your weekly, monthly, quarterly, and annual meetings, the software can make it easy to handle all of these. 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. A single solution is created for all of your lab data with LIS integration. Now it is also possible to integrate with other systems in your facility and this is because of data conversions from existing systems.
When it comes to laboratory billing solutions, you either focus on billing software or billing services. These two varieties should be compared so that you can have the facts before committing to one.
There are efficiencies and improvements provided by laboratory billing software. If you opt for laboratory billing services, then you outsource your billing to an expert third party. And since billing service spends all their time on lab billing, they can process your claims faster than people on your own staff could.
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