There are 2 main types of laboratory environments; clinical services laboratories and diagnostic laboratory service. Clinical laboratories are used for the purpose of examination of material from a patient to prevent, diagnose, or to treat a disease or condition. The other environment is a diagnostic laboratory. In a diagnostic laboratory, a physician or another certified professional is required to perform this type of diagnostic testing. Laboratories are not like the common doctor’s office, and that is what sets them apart. 

What Is a Laboratory Billing System?

Laboratory billing systems have a specialized solution that is used to improve financial standings of the labs that provide medical testing for patients while allowing the staff to work as fast as possible. A laboratory billing system uses and is aware of the unique requirements of lab billing, unlike billing for a medical office or practice. 

Owners of laboratories have their own requirements to fill, which includes being able to ensure better and faster revenue, and to oversee the max scheduling of patients for testing and screenings. Laboratory billing and pathology billing uses a very specific set of CPT codes. CPT codes are used by labs to evaluate specimens from patients. 

Revenue Cycle Management

Most laboratories use an application called ‘revenue cycle management’. Revenue cycle management, otherwise known as RCM, interfaces with the information system from the laboratory. By using revenue cycle management, it allows laboratories and their billing to process claims faster and is better used in a medical setting or a laboratory practice that has more than one location. 

The software that is issued for laboratory billing is automatic and works faster than staff could. While you may worry about all of your personal information being used in an online system, it is a safe and secure way to keep all of your information from visits in one collective spot that is easily accessible from the Internet no matter where you are. You should always take your time when doing research to make sure you get the most useful system for your laboratory billing system. 

Patient Engagement Platforms Designed for You

What is it that actually makes Laboratory Billing Systems so unique? Is it their flexibility within the program? What about the patient engagement platform that is embedded in the system? Or is it the codes that are used in the billing system? There are a multitude of different things that make laboratory billing systems unique. 

Patient engagement platforms are also an added bonus that contribute to making laboratory billing systems unique. Patient engagement platforms are designed to be used between lab teams, doctors, and patients to communicate more effectively and thoroughly between each other. Patient engagement platforms are also used to reduce the number of no shows by sending out appointment reminders, as well as scheduling appointments, sending out after-visit surveys/summaries, and allowing patients to check-in via their mobile devices. 

Outsource Your Laboratory Billing to Credence Global Solutions

Are you looking to outsource laboratory billing with the help of a revenue cycle management company, that can ensure that everything’s smooth sailing? The experts at Credence Global Solutions have you covered. Get in touch with us today to learn more about how we can help!