Advanced Data Systems Corporation Blog
The latest in all things RCM, Electronic Health Records, Radiology Information Systems, Practice Management, Medical Billing, Value-Based Care, & Healthcare IT.
When it comes time to submit billing to government and private insurance carriers, the process can become extremely labor intensive to ensure that the payment is received. Time is money when it comes to the laboratory billing process so ensuring your office has adequate software and protocols in place. Outstanding ones will make sure the eligibility is completed and any referrals or per-authorizations are obtained prior to billing. There are roadblocks that can slow down the submission and subsequent payment of submitting billing.
In medicine, as is the case with any professional endeavor, you need to have the right tool for the job in order to get the best results. When it comes to the flow of revenue in your organization, if you’re not using the right tool for billing, chances are you are actually hampering your bottom line. Practices that try to get by just using some kind of generic billing software suitable for any type of business are doing themselves a disservice.
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Whether you have been a medical office manager for some time now or are somewhat new on the job, there is always more for you to learn about software and technology to help everything run more smoothly.
A great deal of financial work goes on behind the scenes at any thriving medical practice. That’s a given, since you cannot keep the doors open and the lights on if you neglect seeing to the timely delivery of payment for each patient you take care of. With that in mind, professionals who are in search of solutions to save their medical organization time and money find themselves turning to revenue cycle management software.
No matter how excellent a job your team is doing in your medical practice, you can’t keep the lights on and the doors open just based on the quality of care being provided. It’s incumbent on you to pay close attention to your financials too. Those organizations that fail to stay on top of the level of revenue they’re bringing in could find themselves scrambling to remain viable while other practices around them are actually thriving.
Are you starting up a new company that calls for the inclusion of laboratory space, or are you revamping an existing area for your lab and have determined that now it’s time to find suitable lab software so you can get up and running? As a laboratory manager in charge of the equipment and software to be used, you have a priority to look into software availability and to find the most appropriate applications for your organization.
We live in an era of accelerated change with constant innovation in technology, including medical equipment, computers, and software that never stay the same for very long. While your primary focus is on providing outstanding healthcare service, you have to devote some time and attention to staying up-to-date with all your technology too, since we rely so much on devices and applications to provide medical services.
Running a busy medical lab will definitely keep you on your toes. As compared to a physician’s office, urgent care facility, or other place of healing, you likely will be seeing many more patients coming through your doors every day. These patients will arrive to fulfill their doctor’s orders for tests or because they are being screened for using illicit substances.
The keys to financial success in a medical practice include recruiting the best possible doctors, nurses, assistants, and other key personnel and then positioning yourself in the community as a leading healthcare provider. Prudent managers will always be on the lookout for money that is leaving the practice, whether due to problems in scheduling, unpaid claims, or just the fact that you are hobbling your staff by making them use outdated or otherwise ineffective software systems.
You may be just starting out at a new medical laboratory and have been tasked to find a laboratory billing system for your team. Or, perhaps you have been working at the same lab for some time now, and you and your fellow stakeholders have realized that you need to do something now to start collecting more money.