Understanding Laboratory Billing Systems
There are a lot of things to take care of at a busy medical lab. 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.
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.
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.
Labs providing medical testing for patients would benefit from a laboratory billing system since it will help improve their lab’s financial standing and help the staff work more quickly. 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.
The software can be used for scheduling appointments with patients in the office or over the phone. 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. 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 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. Because of data conversions from existing systems, it has become 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. You need to compare that two so that you can decide which one to commit to.
If you go for laboratory billing software, you will experience many efficiencies and improvements from paper-based and generic software solutions. If you opt for laboratory billing services, then you outsource your billing 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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