How Much is Your Outdated Laboratory Revenue Cycle Management Costing Your Lab?

We know a lot of anatomic pathology groups and clinical laboratories are sick and tired of the high denial rates and sizable write-offs that come with an outdated laboratory billing process and legacy lab billing software for labs. Is that the case for you and your technical and financial teams?

Have you thought about unifying your technical and financial operations? With the LigoLab platform, our partner labs have turned cash collections and clean claims into a priority and experienced explosive revenue growth of 30% or more, and you can, too.

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

Pathology lab software like standalone laboratory information systems (LIS systems) and laboratory revenue cycle management systems (lab RCM) are siloed and need help with issues like transparency and synchronization. They are also typically buried in an avalanche of denials caused by missing or inaccurate lab data. This forces lab directors and managers to either use expensive manual labor to rework the claims or write them off as bad debt.

LigoLab Informatics Platform is a complete end-to-end laboratory workflow management solution that leverages integration and automation on one united platform for unmatched performance and efficiency. Unlike legacy laboratory billing solutions, LigoLab’s all-in-one platform for LIS software and lab billing gives users the medical laboratory solutions needed to start lab revenue cycle management at order entry (a major advantage in the current environment of shrinking margins, rising costs, and increased government regulations).

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

This head start allows labs to capture the valuable and accurate information needed for optimized lab billing on the front end of the RCM cycle. Through automation and third-party integration, our users can access RCM tools that quickly verify the patient’s address, demographics, and insurance coverage. These and other details are needed to ensure a first-pass acceptance rate of over 90 percent for claims sent to payers.

I can go on and on about the advantages of the LigoLab platform as a laboratory information system (LIS model) that also seamlessly handles the RCM process, but first I recommend a live pathology software demo to show you what LigoLab can do for your pathology practice (LIS pathology) or medical lab (medical LIS). 

You should also check out our tiered pricing structure, specifically designed to help diagnostic labs get the most out of their relationship with laboratory information system vendors and avoid a one-size-fits-all laboratory information system software solution that falls short of delivering the maximum value.

Related Reading: Documenting the Avero Diagnostics Move From a Legacy Lab RCM System to LigoLab’s All-in-One Lab Informatics Platform

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