LigoLab’s Fully Integrated Platform Features No-Touch Auto-Billing

Los Angeles, CA – LigoLab’s fully integrated pathology lab software infrastructure features No-Touch Auto-Billing, and clinical laboratories and pathology practices across the country are using this laboratory billing (lab revenue cycle management) functionality to automatically send out error-free and denial-free claims with zero human intervention just minutes after the final diagnosis. 

By leveraging the advanced capabilities of the LigoLab LIS & RCM Laboratory Informatics Platform, medical laboratories benefit from a combined LIS laboratory information system (LIS system) and lab revenue cycle management (lab RCM) workflow that produces end-to-end data integrity. This enables users to start the RCM cycle at order entry, a significant advantage directly related to a higher percentage of claims paid on the first pass, and saves both time and resources that would otherwise be spent by reworking denied claims.

“On average, our fully integrated client labs are utilizing auto-billing for about 40 percent of their claims, and that number continues to grow as LigoLab’s all-in-one medical LIS and lab RCM platform uses relevant data to drive continuous process improvement,” said LigoLab CEO Suren Avunjian. 

“With our comprehensive laboratory information system platform that includes billing software for labs, our partners can automatically check insurance eligibility, and patient demographics as the case originates, auto code the case, and auto-bill the payer and the client. All of these steps require zero manual labor. It’s all done in minutes, resulting in more claims going out, faster payments, and no additional operating costs,” he continued.

Maximizing Your Lab’s Profitability with LigoLab’s In-House Laboratory Billing Solutions

As we all know, laboratory revenue cycle management (lab RCM) is a critical yet complex component in the operational and financial success of pathology practices and clinical labs. The intricacies of dealing with various insurance companies, complex coding, and strict regulatory compliance make the laboratory billing process a task that often leads to denials and rejections. 

Given these challenges, the effectiveness of lab RCM can significantly impact an organization's profitability, making it a high priority for lab leadership.

Despite its importance, many labs continue to outsource their RCM cycle to offsite lab billing services that demand a sizable percentage of revenue collected for their services. 

To help inform the masses about a better alternative, we’re taking the opportunity to scrutinize the often attractive sales pitches of these lab billing services while advocating for labs to consider in-house lab billing supported by modern laboratory billing system software instead.

Sales Pitch of Laboratory Billing Services 

Laboratory billing services often attract clinical labs and pathology groups with promises centered around cost, efficiency, and expertise. 

They advertise fixed costs, either as a percentage of net collections or a flat fee, highlighting the financial savings from not needing to employ a dedicated billing staff or manage lab billing software. 

These services also claim to offer scalability and specialization, positioning themselves as experts with deep knowledge of healthcare regulations and advanced lab revenue cycle management software technologies.

Reality Check: The Limitations of Outsourced Lab Billing 

However, the supposed advantages presented by outsourced lab billing services usually don’t hold up under scrutiny. Issues such as reduced transparency, lack of control and autonomy, limited customization, and questionable motivation can undermine the perceived benefits.

Transparency: Outsourced lab billing services often provide less insight into daily operations compared to an in-house approach using sophisticated billing software for labs capable of real-time monitoring and detailed, customized reporting. The lack of detailed transparency can lead to a focus on easier tasks at the expense of more challenging and potentially more lucrative ones.

Control and Autonomy: Outsourcing can lead to diminished control over the laboratory billing process which is critical for ensuring accurate and timely payments. A slight cost saving might not justify the loss of direct oversight and the significant risks associated with outsourcing.

Customization: Every laboratory has unique needs that generic lab billing services might not be able to adequately address. In-house lab billing systems like the LigoLab platform offer customization that can significantly enhance efficiency and ensure compliance with specific operational requirements.

Motivation: The primary motivation for laboratory billing services is often maximizing their profit, not necessarily securing every possible dollar for the lab client. This can lead to a focus on easier, less time-consuming cases, potentially neglecting more complex claims that could also be recovered if the will was there.

Advantages of In-House Lab Billing with Modern Software 

Implementing an in-house laboratory billing system supported by advanced lab RCM software like the LigoLab platform offers several advantages:

• Complete oversight and control over the laboratory billing process, ensuring all revenue opportunities are captured.
• Customizable lab RCM software solutions that can be tailored to meet the specific demands of the lab, improving claim handling and reimbursement processes.
• Increased motivation to address every claim diligently because the lab's financial health is directly tied to lab billing effectiveness.

LigoLab’s lab RCM platform exemplifies the benefits of modern laboratory billing solutions. The platform features a Rule Engine to configure lab billing rules tailored to specific scenarios, promoting an automated and efficient clinical lab billing workflow. The platform ensures optimal financial outcomes and integrates seamlessly with LigoLab's laboratory information system software, enhancing overall lab operations in a silo-free environment that allows for end-to-end data integrity.

While the allure of outsourced lab billing services is strong, labs must consider the potential drawbacks such as reduced control, transparency, and customization. In-house lab billing, supported by robust pathology lab software like the LigoLab platform, offers a compelling alternative that can align more closely with a lab's financial and operational goals, ensuring that the lab remains compliant, efficient, and financially successful.

Why Choose LigoLab’s Pathology Software?

LigoLab’s all-in-one pathology lab management system includes customizable modules for anatomic pathology (anatomic pathology LIS), clinical laboratory (medical LIS), molecular diagnostics (molecular lab testing software), lab revenue cycle management (lab RCM), and direct-to-consumer lab testing (TestDirectly and TestDirectly.com), plus supporting modules and supporting engines that connect, merge, and integrate all laboratory operations and financial processes within one common database and operating system. This means no more silos, no more middleware, and no more inconsistent data. 

LigoLab Information Systems is nationally recognized as a leading developer of innovative end-to-end pathology lab software solutions like the LigoLab platform. 

In Latin, Ligo means “To unite or to connect.” That’s what LigoLab flawlessly does for its nearly 300 laboratory clients nationwide, providing them with a modern LIS software platform that automates processes, eliminates human errors, drives efficiency, and helps them become more profitable.

To help you learn more about LigoLab's fully integrated informatics platform we’ve included the following links for review. 

Why Integrated LIS System and Lab RCM Software is a Catalyst for Growth

Stability and Performance: The Two Most Important Aspects of a Modern Laboratory Operation‍