Understanding Laboratory Billing Systems

If you are running a medical lab, then you will definitely be busy with so much to do. There will be more patients coming to your lab, then to a physician’s office or any other places for patients. 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. 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. 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. 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. This billing system is unlike billing systems of other organizations since it takes into account the unique requirements of labs.

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. With the use of the software, patient’s can determine whether they are eligible for insurance to avoid surprises in the end.

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. 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. Your lab billing system can easily handle accounting and sale commission data, and financial and management KPIs.

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. Now it is also possible to integrate with other systems in your facility and this is because of data conversions from existing systems.

With laboratory billing solutions come two varieties including billing software and billing services. 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. 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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