Laboratory Revenue Cycle Management Best Practices: Pumping Up Billing and Collection Performance
As Robert Michel, editor-in-chief of The Dark Report and industry thought leader explains, “Billing, coding, collections, and compliance are essential functions in every diagnostic service provider's laboratory or practice. Small improvements in each of these areas can translate into a significant increase in net collected revenue.”
In this free report, Improving Management of the Laboratory Revenue Cycle, Michel and XIFIN CEO Lâle White discuss the changing landscape in revenue cycle management and the best practices that will enable service providers to succeed in this volatile environment.
With each passing year, the complexity of laboratory coding, billing, collections, and compliance increases significantly. Many labs cope by hiring more staff to handle the extra workload. But a growing number of the nation's larger laboratories are turning to a more sophisticated solution to pump up the performance of their accounts receivables (AR) team -- software programs that automate management of the laboratory revenue cycle.