Are there specific steps that you can take to dramatically improve your revenue cycle and cash flow?
Let our staff of professional lab managers and billing experts at Laboratory Billing Solutions provide you with a detailed assessment of your laboratory’s billing functions. We are highly experienced at analyzing and identifying revenue cycle problems. Our assessments are customized to the needs of the client and their particular situation at the time, but can include:
- Review of in-house compliance programs and CPT coding for laboratory procedures.
- Detailed analysis of the laboratory’s billing and collection history to pinpoint areas of opportunities for performance improvement.
- Operational reviews of billing functions to determine appropriateness of systems and resources to perform activities.
- Analysis of revenue loss from medical necessity with recommended changes to follow-up procedures to insure greater compliance.
- Examination of fee schedules, provider arrangements and CPT coding, and recommended changes to address situations where claims are denied or inadequately paid.
- Review of internal processes with recommendations for streamlining patient registration, the pursuit of missing information, and the collection effort.
The cost of our operational assessment is estimated based on the time required by the scope of work agreed to in advance. The assessment fee may be reduced or pro-rated if your lab decides to contract with LBS for additional billing services. We are confident that our detailed assessment and follow-up recommendations will translate into major cost savings and revenue recovery opportunities for your laboratory.
Interested in learning more? Contact LBS to see how we can help your lab here, or call us at 603-766-8230.