Is third-party billing right for your laboratory?

Clinical and reference laboratories face a daunting number of challenges.
The complexity of clinical laboratory billing, ever-increasing regulatory demands, inadequate legacy applications and difficulties accessing information can impede growth and hinder the success of your laboratory. 

Consequently, more and more laboratories are turning to third-party billing and revenue management firms.

There are several benefits to outsourcing billing:

1. Focus on Core Competency – Enlisting experts allows lab owners to focus on what they do best, leading to refined workflow, less stress, and proper payments.

2. Resources – When outsourcing to a reputable billing service, you have more aggregate resources at your disposal. Insurance payers have tremendous resources aimed at not paying you. Shouldn’t you be well-equipped also?

3. Increase Revenue – Using a third-party billing firm will often result in tangible results in terms of reimbursement.

4. Cost Effective – Billing fees are based on what you receive, so it’s very easy to budget.

5. Scalable – If you are looking to expand your laboratory or add on testing services, many billing services scalable, saving your laboratory on expensive overhead.

6 –The Intangibles – How much is your time worth? Our third-party services not only make good business sense, but they also provide you with peace of mind and substantial reduction in the day to day aggravations relating to systems, billing, insurance, managing or employee-related concerns and obligations.

If you are interested in seeing a custom billing proposal, contact 855-LAB4LAB, or register at lab4lab.com.