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What is a Laboratory Billing System?

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.

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. There is more foot traffic inside a medical lab than in a doctor’s office.

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.

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.

The software can be used 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.

All your patient’s claims can be viewed in real-time. You can easily edit and resubmit denied claims directly from the software. 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. Your lab billing system can easily handle accounting and sale commission data, and financial and management KPIs.

Laboratory Information Systems or LIS is included in your lab billing system. 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.

When it comes to laboratory billing solutions, you either focus on billing software or billing services. These two varieties should be compared so that you can have the facts before committing to one.

Laboratory billing software provides numerous efficiencies and improvements over paper-based and generic software solutions. If you opt for laboratory billing services, then you outsource your billing to an expert third party. There will be faster processing of claims since their staff is dedicated to lab billing.

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