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Rip off the Bandage: LigoLab Gives Labs the Power to Maximize Laboratory Billing
May 28, 2024
You did the work. You provided the service. Now comes the difficult part, getting your medical laboratory paid for the work and collecting accurately for every operational procedure.
Maybe your operation depends on a legacy billing system that’s slow, not 100 percent accurate and certainly not 100 percent transparent. You’re also dealing with constant changes and modifications within the industry while attempting to navigate through the thousands of payer requirements. It feels like you’re always trying to hit a moving target.
Learn More: The LigoLab Difference: Demonstrating the Power of Lab RCM Automation in the Clinical Laboratory
Your lab may have decided to outsource its laboratory billing/revenue cycle management (lab RCM). If that’s the case, are you sure your RCM management company is incentivized to track down every dollar your operation is due or are they going for just the low-hanging fruit? How secure are they with your organization’s data?
There’s got to be a better way, right?
Two decades ago, the founders of LigoLab had an ambitious vision. They wanted to create a laboratory information system/LIS company that took full responsibility for and supported ALL laboratory departments, technical and financial, becoming the only informatics solution needed for any lab, regardless of size.
That vision is a reality today as LigoLab’s integrated laboratory informatics platform includes a very robust RCM cycle (revenue cycle management terminology) module that modernizes a lab’s laboratory billing process and puts clinical labs and pathology groups in position to differentiate and scale quickly thanks to increased efficiency and performance.
Learn More: Clinical Laboratory Management Solutions for Lab Revenue Cycle Management
LigoLab’s RCM module uses automation and deep third-party integration to streamline lab billing processes, accelerate cash flow, and increase margins. Additionally, it offers real-time data and business intelligence to minimize errors and denials while speeding up reimbursements.
Learn More: The Power of Integration: Unleashing the Potential of LigoLab's LIS System & Lab RCM Platform
Speaking of denials, inaccurate or missing data cause an estimated 35 percent of claim rejections, and manual lab billing processing of claims is both labor and time-intensive. Knowing this, forward-thinking lab operators put the power of LigoLab’s billing software for labs to work and enjoy clean claim rates much closer to 100 percent.
LigoLab’s RCM cycle solution features real-time patient demographic checks, patient insurance eligibility and discovery options, automatic CPT and diagnosis coding, claim scrubbing, ABN generation, patient and client billing, and more. The RCM module also includes a comprehensive audit trail, giving your business full transparency throughout the RCM process.
LigoLab's all-in-one LIS system and lab billing solution is a game-changer for clinical labs and pathology groups ready to modernize and use the power of this fast and customizable laboratory workflow management system to drastically boost the probability of payments while at the same time providing better service to their clients.
Get everything you deserve and put your operation in a position to grow and thrive with LigoLab’s all-in-one LIS system and laboratory billing platform.
LigoLab is a thriving Los Angeles business specializing in pathology lab software licensing. The LIS company continues to compete and win with the giants of the medical laboratory industry thanks to its unique partnership pricing model and its all-in-one laboratory information system (LIS abbreviation medical) and laboratory revenue cycle management (lab RCM) platform.
