July 2022 LigoLab Newsletter: Billing and Coding Automation = More Lab Revenue
Medical insurance denials in healthcare continue to be a major problem, and clinical and pathology labs have been hit particularly hard by the pandemic, increased expenses, reduced reimbursements/margins, and constantly changing payer rules. Add to this a growing population of uninsured and underinsured patients and it's easy to see why lab managers are struggling to make ends meet, and why they are in desperate need of a better billing solution.
So how bad is it?
One industry publication recently reported that denial rates across the industry were at 15 percent for in-network, and 30 percent for out-of-network claims.
Although it's true that some denials are simply part of the cost of doing business, in most cases they can be avoided thanks to billing and coding automation that removes the potential for human error and ensures that a lab's hard-earned revenue is no longer left on the table.
"With all that's at stake when it comes to billing, it's important for labs to implement systems that not only increase productivity, but that also protect them from compliance-related issues and losses of revenue," said LigoLab CEO Suren Avunjian.To learn how LigoLab RCM harnesses the power of rules and automation for error-free billing, click on the "Learn More" button below.
The LigoLab Platform Now Features Web-Based Ordering and Reporting
Introducing LigoLab Web Connect, a newly added feature to the LigoLab LIS & RCM Laboratory Operating Platform that enables physicians and other laboratory clients to easily place orders, retrieve lab reports, and track the status of a case in real-time from anywhere (on any device) with a simple internet connection.
LigoLab Web Connect provides enhanced accessibility without a software install requirement, and it serves as another key tool that lab operators can use to satisfy and retain their customers.
Digital Pathology: The Future is Here
"Pathology's dwindling workforce and increasing caseloads have made complete digitization inevitable."
That's according to LigoLab CTO Tony Oganesian, who believes that unique circumstances were stunting DP growth until recent events like the pandemic changed the landscape.
To learn how the pandemic opened the door for digital pathology and how systems like the LigoLab Platform can become the foundation for a digital pathology ecosystem, we invite you to continue reading.
Introducing LigoLab Web Connect (Video Tutorial)
LigoLab is an award-winning provider of innovative end-to-end healthcare software for pathology laboratories, servicing 150+ facilities nationwide. As a comprehensive enterprise-grade solution, the LigoLab LIS & RCM Laboratory Operating Platform™ includes modules for anatomic pathology, clinical pathology, molecular diagnostics, revenue cycle management, and direct-to-consumer, all on one powerful and integrated platform that supports every role, every department, and every case. LigoLab empowers laboratories to better serve patients, differentiate themselves in the marketplace, scale their operations, become more compliant, and more profitable.
We Understand That Selecting the Right LIS for Your Lab is a Mission Critical Decision
The LigoLab Platform is infinitely configurable and it features supporting engines that enable users to build custom rules and organized workflows that automate complex processes, reduce manual touchpoints, and improve turnaround times. Ready to sunset your current LIS? Then click the button below to book a customized demonstration with our software product specialists. Take the opportunity to learn why the fastest-growing lab operations in the country are using our platform.