Make Sure Unbilled Lab Tests Don’t Slip Through the Cracks
Statistics and studies over the years have shown the amount of unbilled lab tests can climb up to 25% of total tests. This happens either due to misplacement, human error, or a rejection/decline due to error from Medicare or an insurance provider. That’s a lot of lost revenue.
These sorts of losses may well be factored in to general loss borne by the lab, but that doesn’t mean they don’t sting. Those lab tests still had to be run, which means wasted time, employee wages, and equipment use. Rejections from insurance providers due to technical error are especially difficult, since its often cost prohibitive to give up the time and energy to recreate the appropriate paperwork. Many labs choose not to bother and to eat the loss.
But you don’t have to continue swallowing that bitter pill.
One of the many benefits of LIS software is its ability to interface with lab instruments, workstations, and billing systems. Unbilled lab tests will be a thing of the past. Billing information along with correct ICD-9 codes, GA modifiers and CPT4 code, ABNs and Guarantor information is returned to your billing system by your LIS, automatically, for every test performed. These interfaces will pay for themselves quickly through labor savings in the lab, reduced effort in the billing department, elimination of rework, reduction of rejections and write offs, and elimination of missed billing.
Why should you bother with an LIS if you’ve already automated your lab with EMRs? This is a perfect reason. If lost or unbilled lab tests are an issue at your lab, consider incorporating a system that will drastically reduce or even eliminate lost bills. For more benefits of the Polytech LIS, please see our free white paper. If you have additional questions, please let us know.