What is a Laboratory Billing System?
Running a medical lab is not a joke, and will keep you on your toes at all times. There will be more patients coming to your lab, then to a physician’s office or any other places for patients. 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.
The staff that works in a medical lab is much different than the 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. And this is the reason why billing software designed for labs can improve your financial operations which can help you collect more payments in a faster way.
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. This billing system is unlike billing systems of other organizations since it takes into account the unique requirements of labs.
If you want to know how a laboratory billing system works, then check it out below.
When patient’s in the office or when patient’s call to schedule appointments, the software can be used. In order to avoid surprises after the testing, patients are pre-tested by the system for insurance eligibility.
All your patient’s claims can be viewed in real-time. From the software, it is easy to edit and resubmit denied claims. 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. 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. A single solution is created for all of your lab data with LIS integration. Since there is data conversion from existing systems, it is now 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. These two varieties should be compared so that you can have the facts before committing to one.
If you go for laboratory billing software, you will experience many efficiencies and improvements from paper-based and generic software solutions. Laboratory billing services are outsourcing billing services to an expert third party. There will be faster processing of claims since their staff is dedicated to lab billing.
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