Recent studies have shown that physicians have ordered three times as many diagnostic tests as they have in previous years. Specifically, polymerase chain reaction (PCR) tests have become quite common for diagnosing a wide range of infectious diseases, including but not limited to COVID-19. This specific diagnostic test is sought out because it has a number of capabilities, including pathogen detection, evaluation, and even surveillance while maintaining more cost effectiveness than other diagnostic tests. 

Currently, PCR tests have become the gold standard for accurately diagnosing COVID-19. Essentially, a PCR test is a molecular test with the capability to evaluate the specific genetic material found in the SARS-CoV-2 virus. From February of 2020 when the PCR COVID-19 test got the first greenlight they have since skyrocketed throughout the whole pandemic because they’re a minimally invasive and precise way to detect the virus. Research has shown these tests are nowhere near slowing down, in fact, they’re anticipated to gain more momentum as time passes due to the immense amount of reliability and potential behind them.

So the increased levels of PCR tests are creating significant growth in your AR. They are pushing against the standard processes to handle the additional volumes within your lab – just think what it is doing to the Billing processes as well! That’s where Outsourcing comes into play. You can easily outsource to handle the added levels or outsource specific processes/specimens to help keep your AR in balance.  

Outsourcing Allows Guidance on RCM

When you outsource you can finally take away the frustration dealing with your Revenue Cycle Management (RCM). Outsourcing allows the experts of RCM to take a closer look at what might be holding your laboratory company back. Along with insight on how to optimize and streamline your revenue cycle. The use of business intelligence tools allows the experts to track patient care sequences from beginning to end like never before.

A More Personalized Patient Experience

Your patients can finally utilize a more personalized healthcare patient engagement platform when you outsource. Such a platform allows your patients to easily track their payments and decide the best financial plan of action for them. 

At Credence Global Solutions, iConnect produces faster communication by using various channels to get ahold of patients. Your staff will no longer have to sit by a phone trying to reach patients to acquire payments, which means more time to successfully run the lab.

Why You Should Consider Outsourcing to Credence Global Solutions

Laboratory companies are starting to face the new norm of being swamped with a vast amount of PCR orders. It’s hard to juggle this because you’re carrying out the process from beginning to end, dealing with the specimen, analyzing the genetic/molecular components, interpreting results, relaying the results to the patients, and lastly collecting payment.

As a laboratory company that list is barely scratching the surface of all the work which must be done to keep your laboratory running. When you outsource your laboratory billing to Credence Global Solutions, it means less clerical and administrative work to be done by your staff. It takes weight off your shoulders knowing we are here to take care of billing, managed IT support services, and revenue cycle management focused on healthcare.