What is a Laboratory Billing System?
There are a lot of things to take care of at a busy medical lab. 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.
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.
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.
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 designed specifically for labs and their unique requirements.
The following is a summary of how the laboratory billing system works.
One of the uses of the software is 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.
You can view all of your patient’s claims in real-time. From the software, it is easy to edit and resubmit denied claims. Since revenue will be coming faster, then this ensures that your lab remains 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. 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. You need to compare that two so that you can decide which one to commit to.
Laboratory billing software provides numerous efficiencies and improvements over paper-based and generic software solutions. Your billing services are outsourced to an expert third party in laboratory billing services. There will be faster processing of claims since their staff is dedicated to lab billing.
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