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Optimize Your Laboratory Billing Solutions with the LigoLab's Comprehensive LIS & RCM Platform
August 19, 2024
For pathology groups and clinical laboratories to truly optimize laboratory billing (laboratory revenue cycle management), the RCM cycle process must start at order entry.
That’s the belief shared by Edward Kharatian, Medical Director and Co-Founder of LigoLab Information Systems, a thriving business in Los Angeles specializing in pathology lab software and advanced laboratory information systems (LIS systems) for medical labs throughout the United States, no matter their size.
Learn More: Why Integrated LIS System and Lab RCM Software is a Catalyst for Growth
During a recent site visit with a LigoLab partner laboratory, Kharatian went into great detail to explain why lab billing needs to be fully integrated throughout a lab’s workflow and processes because, without full transparency, labs are leaving money on the table.
Learn More: Maximizing Your Lab’s Profitability: The Case for In-House Lab Billing
As a robust all-in-one medical LIS and lab billing platform, LigoLab offers its lab partners the power and full transparency of one united pathology software database and infrastructure instead of the typical multi-system arrangement of standalone LIS systems and lab RCM solutions.
From the moment a sample is accessioned into the LIS system software, the LigoLab platform seamlessly starts compiling valuable information as relevant data gets consolidated into a conveniently displayed “encounter” view.
This view incorporates patient demographic checks, address validation, patient insurance eligibility, discovery options, and preauthorization into a streamlined lab billing workflow with just a few clicks of the mouse.
The system quickly establishes a patient profile and an audit trail, while also checking for duplicate records. All of this is done in the background and without the need for manual entry or synchronization of data because the profile rests in one united pathology lab management system.
Traditional laboratory billing solutions call for manual claim scrubbing and manual coding which is time-consuming and leads to errors during data entry. That’s not the case with LigoLab’s intelligent lab billing solution where CPT and ICD coding is automated, along with claim validation and error correction.
The coding and documentation are reviewed in real-time, and any errors are identified and put into real-time workflow queues that call for resolution before the claim is sent to the payer.
The results speak for themselves as clinical laboratories and pathology groups that have used LigoLab’s end-to-end LIS software and lab RCM solution have enjoyed drastic reductions in denials thanks to more accurate claims. They’ve also witnessed a spike in revenue thanks to timely claim generation and lab bill distribution once the claims have been processed.
Learn More: Reduce Denials and Stop Revenue Leakage With Integrated Laboratory Billing Management
With the LigoLab integrated pathology LIS and lab RCM, labs produce more clean claims and detailed statistical reports to monitor trends, key performance indicators, and benchmarks within the operation. This data allows laboratories to track, audit, and manage confidently with the most transparent LIS healthcare and pathology lab solution.
For more information visit LigoLab.com and request a personalized LIS system or lab billing software demonstration with a product specialist.
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