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 or laboratory billing solution is the promise of more efficient laboratory revenue cycle 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 software systems and next-generation technology like LigoLab’s all-in-one lab information system and laboratory billing solution.

For example, traditional lab billing systems have been built for downstream billing. 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 entire operations. This alignment creates a myriad of benefits that legacy LIS systems and traditional lab billing systems just 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 lab 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

So Why Aren’t More Investing in New LIS Software and Lab Billing Technology?

Despite all of the upsides, some labs are still apprehensive about upgrading their LIS system software and laboratory billing technology. The reasons vary, but most are related to risk. 

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

Unfortunately, things like downtime and poor customer service are a reality that currently plagues the industry, and the horror stories that come 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 provider and we were shocked with what they had to say,” added Abdi. “Not only did it take the previous software vendor two years to implement the new laboratory billing system, but that same lab RCM vendor also provided horrible customer service. Urgent service requests often lingered for months.”  

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 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 money. 

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

“We are often in disbelief whenever we talk to lab 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 are doing everything we can to change the dynamic, and we are putting 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 

Setting Up Fast, Error-Free Billing Software for Labs is Possible

When it comes to a fast, error-free setup, the greatest perceived risk of transitioning to a new lab RCM solution is a delay in collecting payments - or payments that are missed altogether. 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 not only having best-in-class technology but also developing an advanced plan that helps ensure continuity, even as the transition to the new lab revenue cycle management 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 very little downtime during the process and that no RCM cycle is missed. Oftentimes, switching to LigoLab’s lab billing solution can be completed in weeks rather than months.” 

As a RCM Management Company, Customer Service is Our Top Priority 

Although implementation happens fast, LigoLab ensures that its customers don’t get left behind after the initial setup period.

“For clients that need fast implementation, adjusting to the new lab 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, whether it’s two months or two years beyond deployment.” 

For those issues that no amount of training can fix, 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 lab RCM solution is not an easy endeavor, but with the right RCM partner, it doesn’t have to be painful. With good planning, an experienced project management team, and best-in-class 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 while getting used to its new revenue cycle management tools. 

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

LigoLab’s Laboratory Billing Solution

The LigoLab platform is deeply integrated with its laboratory information system and lab RCM modules sharing the same software infrastructure and database. This empowers laboratories to start lab RCM 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 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.