Tips for The Average Joe

Understanding Laboratory Billing Systems

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.

There is a big difference between staff working in a medical lab than those 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.

The use of computers for your medical lab operations is beneficial in organizing everything. 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. 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.

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 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. 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. The LIS integration creates a single solution for all of your lab data. 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. You need to compare that two so that you can decide which one to commit to.

There are efficiencies and improvements provided by laboratory billing software. 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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