Having Difficulties with Clinical Lab Billing?

You probably feel like you’ve been under siege as a clinical laboratory recently. Clinical laboratories are facing an uphill financial struggle due to increased regulation and audits, increasing running costs, and decreasing reimbursement rates. And many are struggling to stay afloat, especially in such a competitive market with high client turnover. It’s more important than ever to tighten up your lab’s reporting and billing processes to ensure you’re recouping costs.
Many laboratories were shocked when the Protecting Access to Medicare Act (PAMA) was signed into law in 2014, and then again in 2018 when new payment rates went into effect. Medical laboratories, on the other hand, are bracing for the full effect of new constraints and reporting criteria, as well as deeper PAMA payment cuts on the horizon.
Making a profit would be challenging for many small and medium laboratories, and some may fail to break even. This is particularly true in light of the current difficulty in securing insurance contracts and earning proper reimbursement. Insurance premiums are becoming increasingly restricted, and collecting patient payments is becoming increasingly difficult.

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Certified Billing Experts

For clinical laboratories, DOCTO BILL provides personalised billing solutions. Our certified medical billing specialists remain updated on regulatory and code updates, and our clinical billing experience ensures a higher revenue stream and higher profitability. We help you form a long-term strategy to thrive amidst all of the changes in store for clinical laboratories by providing correct coding, prompt submission of completed claims, and aggressive follow-up on denials.

The majority of clinical laboratories, on the other hand, do not have to be so pessimistic. Adjusting back-office and front-office processes in a timely and effective manner will make all the difference. The importance of submitting full and correct statements to your lab has never been greater. Not only must CPT and IDC-10 codes be reliable, but statements must also be coded to the highest degree of specificity in order to show medical necessity.