For pathology and clinical laboratories to truly optimize billing, the process needs to start at order entry.
That’s according to Edward Kharatian, President of LigoLab LLC, a thriving business in Los Angeles that specializes in software licensing for AP, CP and MDx laboratories throughout the United States, no matter the size.
During a recent site visit with a LigoLab partner laboratory, Kharatian went into great detail to explain why billing needs to be fully integrated throughout a lab’s workflows and processes because, without full transparency, labs are leaving money on the table.
As a robust solution, LigoLab offers its all-in-one Laboratory Information System (LIS) and Revenue Cycle Management (RCM) platform, the LigoLab AP/LIS + RCM.
From the first moment that a sample is accessioned into the system, the LigoLab seamless LIS + RCM platform 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 pre-authorization into a streamlined workflow with just a few clicks of the mouse. The system quickly establishes a patient profile and an audit trail, while also checking to make sure there are no duplicate records. All of this is done without the need for manual entry or synchronization of data because the profile rests in one united system.
Traditional billing solutions call for manual claim scrubbing and manual coding, both of which are time-consuming and lead to errors during data entry. That’s not the case with LigoLab’s intelligent billing solution where CPT and ICD coding is automated, along with claim validation and error correction.
The coding and documentation is reviewed in real-time, and any errors are identified and put into real-time queues that call for resolution before the claim is sent to the payer.
The results speak for themselves as laboratories that have used LigoLab’s end-to-end solution have enjoyed drastic reductions in denials thanks to more accurate claims. They’ve also witnessed a spike in revenue thanks to timely and accurate claim generation and bill distribution once the claims have been processed.
With the LigoLab integrated LIS + RCM, labs not only produce clean claims, they also produce 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 solution available.
Increase productivity and gain visibility with LigoLab’s fully integrated and configurable LIS + RCM platform, built to provide deep insights into a lab’s financial, administrative and technical operations.
For more information visit LigoLab.com. To request a LigoLab AP/LIS + RCM demonstration, contact Suren Avunjian at (818) 395-4659 or firstname.lastname@example.org.