Maximize your return, minimize your investment
Billing is an integral and critical part of every laboratory. While most of a laboratory’s resources are directed towards providing high quality, professional, and efficient service for customers and patients, a good and effective billing system guarantees that the laboratory gets a suitable return for the services provided, while maintaining the same high standards in the long run. With this in mind, the LabOS Billing module was created.
Nothing affects your bottom line more than your ability to effectively collect for completed work. The LabOS Billing module will assist you with collection as much as possible without leaving money on the table.
Flexible fee schedules, which can be relative to other existing schedules with percentage or fixed value carve-outs, enable high precision pricing.
Full support for Medicare guidelines and accurate travel calculations and billing, enable you to maximize your return. Capitated agreement options and a dedicated interface, facilitate the process of capturing included patients and billing appropriately, including out-of-capitation services.
Lastly, a comprehensive set of reports will highlight bottlenecks in the lab that prevent bills from going out, and breaks down returns by payers, services, clients and more.
Control your Business
The system displays clear and current statuses ensuring that you are always up to date. The financial reports, together with the business and managerial reports, provide a complete and accurate picture of the laboratory’s financial performance and forecasts. The data is available at both order and service levels.
Maintaining the expected return (contracted) of each service, provides managers with more accurate cash flow predictions. Expected return values can be further fine-tuned based on actual received values.
Automate More, Work Less
For many labs, billing is a labor-intensive department. With LabOS, you can redirect your efforts and resources towards improving collection rather than dealing with the work manually. LabOS Billing module is continuously synchronized with all of the changes to the lab’s orders. Late test additions and cancellations are handled automatically, even after payments are made. Tests are automatically translated into billable services by applying predefined rules, including automatic resolution of colliding panels, grouping ordered tests into billable panels, and any other user-defined rules. Even technical modifiers can be added automatically.
Clean claims are ensured by flagging missing information that is required for payers. These are easily handled through phone work lists and scheduled reports that are directly sent to physicians.
Automation enables claims to be submitted electronically in a lab-defined schedule, electronic responses to be captured, and carrier responses (denial codes) to be translated into canned actions. This enables the billing personnel to deal solely with exceptions.
With frequently changing requirements in the highly regulated billing world, your lab needs to adapt quickly to those changes. The LabOS Billing module supports these changes, as all system elements are user-defined, such as rule based logic, test code, modifiers, and more. Similarly, all system policies in regards to aging, automatic re-billing, canned responses, etc., are user controlled.
The integrated ANSI interface engine makes adjusting to specific clients’ custom formats and interfacing with clearing houses, a breeze. You can select from a variety of invoice formats or build your own for each client. Electronically upload diagnosis (ICD-10) tables and per-state LMRP (NCD) tables to ensure that your requirements are up to date. External documentation that is required to support your claim can be included via the integrated ‘clip’ support. You will find all you need at your fingertips.