LigoLab - Who We Are and What We Do (Video and Transcript)
November 16, 2023
LigoLab is a leading provider of innovative end-to-end healthcare software for laboratories, servicing 100+ facilities nationwide. As a comprehensive enterprise-grade solution, the LigoLab LIS & RCM Laboratory Operating Platform™ includes modules for AP, CP, MDx, RCM, and Direct-to-Consumer, all-in-one integrated platform that supports every role, department, and the entire lifecycle of all cases, enabling laboratories to better serve patients, differentiate themselves in the marketplace, scale their operations, become more compliant, and more profitable.
To learn more about our software and our commitment to help laboratories grow and thrive, please watch our company overview (click video link below):
Hello, and welcome to this LigoLab presentation. We look forward to showing you how our comprehensive LigoLab AP LIS platform will transform your lab into an information-driven, connected, and thriving business. We'll demonstrate how our platform will position your lab for future growth, through an increase in efficiency, revenue, and patient satisfaction, while at the same time, reducing labor costs, human errors, and lost specimens. LigoLab's completely integrated and flexible platform is designed to support all clinical diagnostic disciplines and pathology labs. We'll show you how to leverage the platform to support, transform and streamline the complete life cycle of your operations, including all financial aspects of the business. In short, LigoLab provides an innovative laboratory software solution for laboratories nationwide.
At LigoLab we give labs the tool to grow and thrive in a rapidly changing environment where consolidation along with a reduction in fees is a new reality. To thrive, while managing the current challenges, labs must be nimble and continue to adapt. At LigoLab, we partner with you to meet the challenges of today and prepare your lab for future success. Your success is our success because we align ourselves with your organizational goals. We understand the challenges that you're facing.
Let's start off by first talking a little bit about our company. LigoLab is headquartered in Los Angeles. It's a privately owned and profitable company that has served pathology laboratories nationwide since 2006. Prior to starting LigoLab, Edward and Suren, the founders of this company, worked together at a lab that became the largest privately held lab in California. That lab was thriving because our founders were implementing innovative technology that allowed the lab to do more with less. Eventually, that lab was sold off to LabCorp, and that sale provided an opportunity as Edward and Suren took all the lessons they had learned and decided to start this company.
And a core principle behind that decision was to create a company that took full responsibility for all lab workflows, becoming the one and only solution needed to grow and thrive. "Ligo" means to unite in Latin, and that's what the LigoLab system is designed to do. It connects, merges, and integrates every lab process through shared technology into one source of truth. It becomes the focal point for all lab operations.
Our LigoLab AP LIS was built with pathologists for pathologists. It modernizes labs by streamlining processes, improving workflows, and eliminating human errors and lost specimens. It's intuitive, easy to learn, accessible from anywhere at any time, and it's scalable.
It drives business growth, reduces labor costs, and increases revenue. Our system caters to AP, CP, and molecular labs. It's designed to support a wide range of laboratories, and it's also designed to scale with you. It's a powerful tool that enables labs to grow and thrive.
Leading laboratories across the country have leveraged their relationship with LigoLab to scale their businesses. As an example, our platform currently supports a group of over 100 pathologists located at multiple sites across multiple states. Also, we have a reference laboratory that's processing over 10,000 orders a day. Our robust software solution has the proven capability to handle those types of workloads and beyond. These are just a few of our partner labs that have utilized our laboratory platform and then transformed their labs
At LigoLab we provide one system and it's more than a laboratory information system, it's a comprehensive operating platform that's extremely flexible and has unlimited configurability. In fact, not a day goes by without us developing and then deploying a new feature for the platform to better serve our partner labs. It's the most feature-rich system available.
And our edge is your edge when it comes to pricing. Unlike large legacy systems, we at LigoLab don't charge any licensing fees upfront. We invest in a long-term relationship with our customers through our transactional pricing model and our policy of no large upfront capital investment.
This means that we share the risk with you and allow you to scale quickly. We charge based on the number of cases processed through the system and we don't nickel and dime you on the number of seats or the number of modules used. You get the full power and capabilities of the LigoLab system from day one. We also have a client-friendly policy for sublicensing the software. LigoLab encourages its clients to sub-license to their own customers the full capabilities of the LigoLab integrated platform, at no additional costs.
This means that a LigoLab client has the ability, at its sole discretion, to offer LIS capabilities to its own customers for their use and benefit. We believe in our product, and we're confident that our system will increase your revenues and your margins. In well over 15 years of business, not a single client has left us for a competing vendor because we have a system that ties everything together and our pricing model encourages growth.
Additionally, we offer deep expertise and best practices in this domain that we've learned from years of experience from partnering with a wide range of labs. We specialize in LIS software. This is all we do. We also offer responsive and unlimited 24/7 customer service and support. We're there to assist and advise when you need help.
LigoLab is a scalable solution for your lab with open architecture and automation, which means that it can easily interface with virtually any service provider or vendor out there, while at the same time, eliminating redundancy and minimizing errors. The platform is internet-enabled. It can be hosted on either a server or in the cloud, and it can run on any operating system anywhere around the world, without the need to set up any VPN connections.
Security is built-in throughout the platform. The end-to-end platform improves efficiency, client services, and patient care.
The results speak for themselves. Our LIS solution enables labs to increase productivity and scale quickly by applying automation to workflows, empowering labs to do more with the staff that they currently have. LigoLab gives you a competitive edge in your marketplace. This one united system, this one source of truth, can be configured to support the unique requirements of your customers, setting you apart from the competition.
And because it's an all-in-one system, it enables you to see potential problems as they arise and eliminate the bottlenecks and the pain points quickly, leading to better customer service and faster turnaround times
LigoLab offers robust solutions for anatomic pathology, clinical pathology, reference labs, and personalized medicine, along with a powerful and embedded billing revenue cycle management module, all on one integrated software infrastructure.
We can tailor the software solution to meet the specific needs of the customer, no matter the size of the lab because the platform is very flexible. We load all the common workflows into the platform, and then we enhance those workflows with specialized engines that are integrated throughout. The solution includes supporting modules like outreach, specimen handling, document imaging, send-out tracking, and digital pathology, which utilizes whole slide imagers and machine reading algorithms to support the pathologist's workflow. Plus, a CRM module that supports the customer service department. All are integrated and seamlessly work together. The business intelligence module covers all of your reporting needs. It includes configurable dashboards, CAP and CLIA reports, and beyond. Deeper under the hood we also offer supporting engines, like the workflow designer and the interface engine that connects to any instrument, EHR, or any other third party.
Continuing on, let's highlight the reporting and distribution engine, which enables you to create reports that make you go wow, and then distribute them any way that a customer might want. Additionally, the rule and automation engines allow for intuitive programming of simple to complex logic and preferences and then the outsourcing of it to the platform for consistent and reliable execution. On top of that, our platform also provides support for voice dictation.
The revenue management module ties everything together, offering real-time patient demographic checks, patient insurance eligibility, and discovery options, automatic CPT, and diagnosis coding, claim scrubbing, ABN generation, and patient and client billing to name a few of the benefits.
By using the combined power of the LIS and the RCM, you get the benefit of one united system that creates efficiency every step of the way, while at the same time, opening up new lines of revenue. Other added advantages include client and patient engagement and more valuable analytics for you and your business.
Our partner clients receive the full platform. Every module is available from the start. So, if a successful AP lab wants to expand its operations to include clinical testing, it'll have access to all the modules needed to expand its business. It's all pre-licensed and built within the system. No third-party interface solution is needed. This integrated platform will support your current and future lab needs.
We work closely with our partner labs every step of the way from domain analysis and validation to go-live. We're very experienced with this process and we have a proven way of bringing up the system while at the same time mitigating risk. In all of our years of experience, we've never had a rollback after go-live. Every one of them has been a success.
First, we take a deep look at your business and gain a full understanding of your challenges. We next implement and configure the software, and then provide training and best practices expertise. We validate all configurations, workflows, and processes, by testing in parallel with your current system, and then comparing the results.
We find that typically 95 to 98 percent of the issues associated with configuration are eliminated during validation. Once everything is validated and we're ready for go-live, we schedule and dedicate a support team to assess results, evaluate, and make adjustments where needed. From go-live and beyond, we take full responsibility for all of your information system needs, providing 24/7 assistance and support as you thrive and grow.
We at LigoLab are committed to supporting your goals and also meeting the demands of your current and future stakeholders. We provide the solution that empowers your employees to be more powerful and productive, and our platform’s shared risk pricing model and sublicensing agreement open up new lines of revenue for you to scale quickly, while also increasing efficiency, improving client services, and patient care.
Learn more by visiting LigoLab.com and requesting a full video demonstration, or call (818) 395-4659.
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