Is Your RCM Software Vendor Putting Your Lab’s Needs First?

One of the most exciting things about updating or replacing a legacy laboratory information system (LIS abbreviation medical) or laboratory billing solution (laboratory revenue cycle management) is the promise of more efficient laboratory workflow management and a more profitable lab operation. 

With the digital transformation of all things healthcare-related kicking innovation into overdrive, now is the perfect time for molecular, clinical, and anatomic pathology laboratories to consider a laboratory workflow management upgrade because there are stark differences between legacy laboratory information systems (LIS systems) and next-generation LIS software technology like LigoLab’s all-in-one lab information system and laboratory billing solution.

For example, traditional lab billing systems have been built for a downstream laboratory billing process. This includes payment processing, claim review, adjustments, denials, and collection management. In contrast, next-generation informatics platforms like the LigoLab LIS & RCM Laboratory Informatics Platform focus on the end-to-end alignment of a lab’s operations. This alignment creates a myriad of benefits that legacy LIS systems and traditional lab billing systems can’t match, including:

• Reducing the time between the date of service and the payment for providing that service
• Bridging clinical and financial data across all laboratory workflow
• Increasing automation, particularly lab billing automation
• Producing real-time analytics and insights to guide decision-making
• Facilitating a better and more unified customer experience

Learn More: How Much is Your Outdated Laboratory Revenue Cycle Management Costing Your Lab?

Investing in New LIS System Software and Laboratory Billing Solutions

Even with the upsides, some labs are cautious about upgrading their LIS system software and lab billing technology. The reasons vary, but most are related to risk. 

“Many of the lab managers we talk to feel trapped with their current laboratory billing solutions,” said Farzad Abdi, LigoLab’s Billing Manager. “They know deep down that a lab billing upgrade is needed but they feel the process associated with implementing a new laboratory billing system is fraught with financial and operational risk. Downtime, errors, and poor service are their primary concerns.”

Unfortunately, things like downtime and poor customer service from lab vendors are a reality that plagues the medical lab industry, and the horror stories coming from new customers regarding their old laboratory billing solutions are almost unimaginable. 

“One of our customers recently shared their experience with us regarding a former RCM management company and we were shocked with what they had to say,” added Abdi. “It took the previous provider two years to implement the new laboratory billing system and that same lab RCM vendor also delivered horrible customer service. Urgent service requests often lingered for months.”  

Learn More: LigoLab Reviews - What Do Our Customers Think?

Laboratory Billing Solutions With Poor Service Should Not Be the Norm

After investing thousands of dollars, hundreds of man-hours, and countless sleepless nights implementing a new laboratory billing system, the last thing a lab director or manager wants to deal with is problems. A lab vendor’s relationship with the customer is meant to be a partnership, not a nightmare. It’s almost as if the only thing some lab billing vendors care about is the upfront money. 

For the team at LigoLab, it’s all about the LIS company putting the customer’s needs first.  

“We are often in disbelief whenever we talk to lab directors and managers about their prior experiences,” said LigoLab CEO Suren Avunjian. “The lack of customer service and follow-through that sometimes exists within the industry is unacceptable. As a trusted laboratory information system vendor, we do everything to change the dynamic and put the customer above all else.” 

To make this promise a reality, LigoLab provides each new customer with the following guarantees:

• Fast, efficient, and error-free setup
• Training that mirrors the lab’s real environment
• Guided, ongoing training – on-site when needed
• A dedicated company representative to answer questions or process service requests
• Free consultation on best practices and advice on payment and reimbursement structures that net more revenue
• Advice on which lab billing codes to use for services 

Learn More: Six Reasons Why You Should Choose an Integrated Laboratory Billing Solution for Your Medical Lab

Setting Up Fast, Error-Free Lab Billing Software for Labs

Regarding a fast, error-free setup, the greatest perceived risks of transitioning to a new lab billing software solution are a delay in collecting payments and missed payments. With most laboratory billing solutions, there are three primary reasons for this:

• Payments are delayed because of downtime
• Major computing errors occur during the lab vendor’s implementation
• Existing accounts are not addressed or carried over to the new lab billing system

LigoLab addresses all of these pitfalls by utilizing best-in-class technology and developing an advanced plan that helps ensure lab revenue cycle management continuity, even as the transition to the new RCM solution is taking place.  

“As complicated as it may seem, we have perfected how our intelligent laboratory billing solution gets implemented,” added Abdi. “Our priority is ensuring that our customers have almost no downtime during the process and that no RCM cycle is missed. In most cases switching to LigoLab’s laboratory billing system can be completed in weeks rather than months.” 

Learn More: Leveraging LIS System & Lab RCM Integration to Improve the Laboratory Billing Process

An RCM Management Company with Customer Service as a Top Priority 

Although implementation happens fast, LigoLab ensures its customers aren’t left behind after the initial setup.

“For clients that need fast lab RCM implementation, adjusting to the new laboratory billing system can lag beyond the time for go-live,” stated Avunjian. “That’s why we continue our lab revenue cycle management training program well beyond the initial setup. We also do follow-up training as needed, be it two months or two years beyond deployment.” 

For issues beyond training LigoLab offers clients a dedicated RCM management company representative. 

“Forget about service tickets that get stuck in the queue, we are there whenever our clients need us – 24/7,” added Abdi.  

Implementing a new laboratory revenue cycle management solution is not an easy endeavor, but with the right RCM management company, it doesn’t have to be painful. 

With good planning, an experienced project management team, and best-in-class RCM software and service, upgrading to a future-ready laboratory billing system can be done in a phase-by-phase approach that mitigates risk and allows the lab to maintain its daily business as it gets used to its new RCM tools. 

We believe every customer has unique needs so rather than forcing a “cookie-cutter” approach to laboratory billing software implementation, we evaluate business processes and proactively make recommendations for users so they can best utilize the platform,” concluded Avunjian. “Our dedicated team goes the extra mile for our customers.”

Learn More: The Power of Integration: Unleashing the Potential of LigoLab's LIS System & Lab RCM Platform

LigoLab’s Laboratory Billing Solution

The LigoLab platform is deeply integrated with its laboratory information system (LIS system) and laboratory revenue cycle management (lab RCM) modules sharing the same software infrastructure and database. 

This empowers laboratories to start the RCM process at order creation with no data silos and no synchronization, providing a real advantage that reduces denials and audit risk and increases net collections. 

Additionally, LigoLab fully supports the laboratory billing process with real-time verification, eligibility, and scrubbing components, automated ICD and CPT coding, and automated client billing. All RCM cycle processes are seamlessly integrated within LigoLab’s live queue-facilitated laboratory workflow, giving users full transparency and end-to-end operational efficiency.

To learn more, we invite you to request a software demonstration to see what a truly integrated LIS system with fully integrated lab RCM functionality can do for your lab’s operational efficiency, revenue, and profit.

Learn More: Reduce Denials and Stop Revenue Leakage With Integrated Laboratory Billing Management

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