The pandemic has caused every aspect of healthcare to explode and specifically caused laboratories to work in overdrive. In addition to unprecedented work loads due to the pandemic, laboratories have also undergone a considerable number of changes in technology, patient care models, compliance and regulations.
A Look Inside the High Volume of Lab Testing
There was a surge seen in the volume of diagnostic tests relating to COVID-19. Not only was there an increase in volume in laboratory testing related to COVID-19 diagnosis but there was also a rise in other laboratories that specifically did not deal with diagnostics of COVID-19. For instance, pain and toxicology laboratories saw a 4% increase in volume. Even molecular laboratories experienced an increase in volume because of the pandemic.
How Technology Can Produce Some Relief
Ever since the very beginning of the pandemic, we can all acknowledge how the use of technology has drastically increased. Employees were required to work remotely and technology dealing with business intelligence was starting to be utilized more. Currently, technology has produced relief to staff and provided astonishing results. However, fast-paced laboratories may be still dealing with IT departments who are not fully equipped to take on the high volume of lab testing being seen. On the contrary, when you outsource there will always be managed IT Support Services at your beck and call. Along with technology solutions that will drive positive financial outcomes.
What Exactly Should You Outsource?
Now it’s time to look at exactly what your company should outsource now that your laboratory is dealing with a rapid and high volume of lab testing. Consider outsourcing your RCM because ever since the pandemic the revenue cycle has become increasingly sophisticated. By outsourcing your RCM, you will get all types of business insight and intelligence, all the while adhering to the new regulations.
Additionally, contemplate whether an out-of-house billing team would be more beneficial. When you outsource your laboratory billing it can be more cost-effective and can experience quicker payment times. Finally, when you collaborate with an outsourcing company you will have access to the finest document management system with the capacity to receive, track, and manage.
Partnering with a Knowledgeable Outsourcing Company
At Credence Global Solutions the numbers speak for themselves. With 200 years of industry knowledge in our leadership along with more than 150 client portfolios, we are more than ready to face any challenges. A fast-paced laboratory does not scare us, in fact, we welcome the challenge and are excited to prove to you our solutions work.
