If you are running a medical lab, then you will definitely be busy with so much to do. 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.
There is a big difference between staff working in a medical lab than those working in a doctor’s office. YOUr staff consist of professionals who take samples and analyze them and this work is very different from what the doctor’s assistants do. Staff in a medical lab who schedule these tests have a busy workload while the assistance at the doctor’s office simply take appointments for the doctor.
Your medical lab team can work efficiently and quickly with computerized operations that can keep everything organized. IF your lab uses a billing software, your financial operations can improve and can help you to quickly collect more payments.
Laboratory billing systems are specialized solutions to the financial standing of a lab that provides medical testing for patients; it can also help make the job of staff faster. Laboratory billing systems are not like medical practice billing systems since they are designed uniquely for lab requirements.
The following is a summary of how the laboratory billing system works.
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. There will still be profitability in your lab since it will be faster to receive revenue.
Your PAMA data can be reported using the reporting feature of your lab billing system. 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.
In your lab billing system, you can also find Laboratory Information Systems or LIS. All your lab data can have a single solution with the LIS integration. Since there is data conversion from existing systems, it is now possible to integrate with other systems in your facility.
When it comes to laboratory billing solutions, you either focus on billing software or billing services. In order to choose whether you will commit to billing software or billing services, it is important to compare the two varieties.
There are efficiencies and improvements provided by laboratory billing software. Laboratory billing services are outsourcing billing services to an expert third party. Since billing service spend all their time in lab billing, then they will be able to process claims really fast.
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