Considering Outsourcing Your Lab’s Billing Operations?
Reduced Administrative Load
Your team can dedicate more time to accurate test results. Handing the laboratory billing process to specialists means less focus on claim submission issues. It frees up your staff for critical lab services.
Specialized Knowledge and Insight
Our certified billers constantly track updates to CPT codes and payer policies. Your medical laboratories will submit clean, fully compliant claims.
Adaptable Billing Services
Our support scales with your laboratory’s volume. From routine laboratory tests to complex pathology billing, we adjust. Add or pause follow-up services as your testing capacity changes.
Improved Cash Flow
Timely payments become more consistent. We use smart routing for laboratory medical billing services across various insurance providers. This helps maximize reimbursements.
Lower Operational Expenses
You can eliminate costs for expensive in-house billing software subscriptions. Continuous training on coding changes is also reduced.
Actionable Performance Data
Gain access to real-time analytics. You can see payer mix for lab services and trends in denied claims. Spot issues early. You can also benchmark your financial performance.
Custom Laboratory Billing Solutions for Your Unique Needs
Every laboratory faces distinct challenges. These might range from missing proper documentation for specialized laboratory tests to confusing payer requirements. Some face seasonally high volumes for certain lab services.
But your dedicated account manager learns the unique workflows at your pathology practice or lab – regardless of its size. We then tailor our laboratory billing solutions. This ensures your billing department and clinical team operate smoothly together.
In-Depth Performance Monitoring
We understand that revenue is not the sole metric for medical laboratories. Even smaller medical labs need to boost their bottom line. We layer financial data with key performance indicators, such as test processing times and claim denial rates. This provides a comprehensive view of your lab’s operations.
With this kind of analysis, you will quickly see how adjusting services or targeting specific healthcare providers could improve profitability.
Connect with PMN for Lab Billing Expertise
Our team offers a personal touch often missing from larger billing companies. Stop writing off unpaid claims – switch to PMN and you can keep more of the revenue your lab has earned through its vital lab services!
What Sets PMN Apart for Lab Billing?
Efficient Enrollment and Credentialing
We work to minimize delays with insurance providers, which include major carriers and state-specific plans. This helps you prevent costly gaps and lets you maximize reimbursements.
Enhanced Revenue Cycle Management
We oversee the entire revenue cycle management. This starts from verifying patient data, before moving on to electronic claim submission and payment posting. Your laboratory gets paid faster, and patients also understand their responsibilities better.
Dedicated Compliance Assurance
HIPAA, CLIA, state regulations, and payer-specific rules are all monitored by our team. We keep your proper documentation audit-ready. We also safeguard sensitive patient data. Regulatory compliance is a cornerstone of our laboratory billing services.
Optimized Billing Workflows
Automated eligibility checks streamline the initial stages, then batch electronic claims improve efficiency. Our advanced technology means you’ll have a friction-free payment experience.
Thorough Billing and Coding Audits
Access regular deep-dive audits that help confirm the accuracy of your CPT and HCPCS codes. They also ensure adherence to payer requirements for various laboratory tests, including pathology billing.
Commitment to Quality Results
We benchmark key performance indicators like denial rates. We also track collection percentages against national standards. Then, we coach your team towards continuous improvement in your financial performance.
Frequently Asked Questions
Bill for laboratory services by ensuring you have the correct CPT/ HCPCS and ICD-10 codes for the procedure. You’ll also need to verify the patient’s insurance coverage and LCD requirements, before submitting claims with the relevant diagnosis codes and CLIA certification information. Some services, such as molecular or highly complex tests, may require additional documentation to meet the payer coverage criteria.
Find the best laboratory billing services near you by looking for those with verified laboratory experience and positive client reviews. Many top companies with CLIA compliance knowledge and a clear process for managing LCD-based denials operate remotely via secure EHR integration. PMN can operate both on-site and remotely to deliver expert billing and coding support across the country.
Outsourced laboratory billing and revenue cycle management service generally cost 4-8% of your collections. If you’re looking for a more cost-effective solution, PMN offers rates starting from 3%. This covers everything from CPT and HCPS coding to denial resolution for clinical and pathology labs, with no additional setup fees.
Yes, specialist medical billing companies can manage all requirements for high-complexity tests. These services include CLIA certificate documentation, HIPAA-compliant data workflows, payer-specific LCD coverage, and prior authorization for molecular panels. This reduces audit risks and high denial rates that complex laboratories often face without expert support.
