OUTSOURCE LABORATORY MEDICAL BILLING SERVICES
Medcare MSO’s lab billing services cover all aspects of medical revenue cycle management (RCM), from payer credentialing to old AR collection. Laboratories medical billing services are available as a standalone offering or in a completely customizable package that may include insurance verification, patient billing, and old AR collections, medical coding and billing software, billing specialists, and more.
April 1st, 2019
$14.46 million to $22.9 million
Revenue Increased by
LAB MEDICAL BILLING SERVICES FOR MAXIMUM REIMBURSEMENT
Medcare MSO’s expert billing for laboratory services includes scrubbing and submitting claims within a few days, then tracking all claims until they are paid, resulting in greatly increased cash flow.
Laboratory Billing Solutions
For Complex Requirements
Unlike many laboratory billing companies that only service high-ticket providers, Medcare MSO’s innovative approach works perfectly for lab billing solutions where a high volume of low-dollar claims need to be processed. The efficiency of our system allows us to quickly scrub and file hundreds of claims, typically within 48 hours, and includes a manager assigned to each client who will track all claims, making sure each one gets reimbursed.
Full-Service Lab Billing Company
Medcare MSO offers support for all aspects of lab revenue management. Clients often start with lab medical billing, but once they see how well our system handles their claims, they add collections and then other services, particularly those that involve dealing with payers, such as credentialing, which can take a lot of time. We will also handle old AR accounts and are very successful at getting payment for bills up to a year old. Our staff will handle payer credentialing, verification of patient insurance coverage, laboratory billing compliance audits, and anything else you may need.
Claims Management & Assessment
The main point of lab medical billing services is clearly to obtain reimbursement for services you provide to patients. Our experienced billers scrub claims to eliminate errors before submitting them, greatly reducing rejections and denials. When these issues arise, Our lab medical billing experts are very quick in identifying and resolving the loopholes successfully. A tremendous amount of revenue can be lost due to claims being abandoned, so regardless of the value, our laboratory medical billing system includes tracking each claim to ensure it is paid.
Collections – Old AR and Current Charges
In addition to reimbursement received directly for claims, there are often balances due from patients, collaborating providers or additional payers. Our remarkable laboratory billing company will manage all of those. Clear communication and an efficient system combine to get much higher than usual receipts. Our accounts receivable management handling of old AR accounts is highly successful even for balances due that are up to a year old.
In order to avoid claim denials due to coding errors, software must be updated frequently—however, the cost of maintaining this kind of an information system can be prohibitive for labs. One of the greatest benefits of working with an independent laboratory billing solutions company is that you no longer have to worry about keeping up with coding changes and payer requirements.
Our software can be integrated with your existing practice management, EHR, and EMR programs, or it can be used alone to encompass all aspects of patient data and lab medical billing.
Always Up to Date
The coding and billing teams at Medcare MSO are highly trained and experienced, but ongoing training is part of our business model, to keep everyone up to date on code changes and new payer requirements. A final step in our laboratory billing process that helps us really stand out is tracking down the source of the error that caused the rejection or denial, and re-training the responsible party to make sure errors are not repeated.
The Lab Business isn’t Getting any Easier
Leverage the Medcare MSO team’s lab experience and know-how to help chart a successful future.
Detailed and Transparent Reporting
Medcare MSO provides advanced laboratory billing solutions that not only take the administrative burden off your shoulders but also keep you informed with actional financial insights. Our reports are presented regularly, and are designed to keep you abreast of several key performance indicators (KPIs). You will see how long it is taking to get paid And complete insights about the pending payments including current accounts-receivable balance, for example. You will see that you are getting paid faster and the proportion of unpaid bills gets smaller after working with one of the best lab billing companies.
Risk Free Partnership
Our innovative approach to medical billing is so successful that we offer a guarantee of at least a 10% revenue increase. And unlike some other laboratory billing companies, there are no hidden fees. No startup charges or setup fees will be added to your account balance.
When you outsource laboratory medical billing to Medcare MSO, you are working with a trusted partner whose focus is solely on ensuring your success.
We offer complete and customized billing and project management services to meet your needs.
We will provide you with physician practice management services and modern medical software at a very affordable rate.
We assign a Medcare Regional Manager to your office to ensure that everything runs smoothly.
Experts at Medcare MSO also work with payroll, coordinate benefits, and provide your office with human resource services.
We will process and collect your accounts receivable, and offer full accounting services.
Medical Billing Collections
Billing and Coding
Physician Credentialing with Coding Evaluation
EMR/EHR Custom Template Design