Labs have an increasingly smaller margin of error to achieve satisfactory financial results and create value.
Every laboratory needs to get more out of less, and this is equally true of the billing function. At Laboratory Billing Solutions (LBS), we look at the core billing process as a production process. We design both our core billing software and operations in an “assembly line” format that enables claims to be executed as efficiently, accurately, and consistently as possible.
This approach enables LBS’ clients to reach unrivaled productivity and quality standards, resulting in these types of outcomes for our clients:
- Improved labor productivity of 20% to 50%
- Reduced DSO’s by 10 to 30 days
- Increased collections by 5% to 15%
We constantly strive to increase the value and contribution of each employee by engineering better workstations, processes, and performance metrics – it’s an ongoing journey few labs have the resources to undertake alone.
Billing optimization is the first and most crucial step in maximizing your return on your billing assets and improving your bottom line.
Interested in learning more? Contact LBS to see how we can help your lab here, or call us at 603-766-8230.