Clerical decision making leads to unnecessary write-offs and low claims processing productivity. Most billing systems have manual work queues, requiring staff to work each individual claim instead of correcting errored claims in bulk. CMS estimates the 40% of lab claims come in with missing or incorrect information; if clerical staff does not have an automated way to address large volumes of errored claims it results in large write-offs (often these write off are incorrectly attributed to contractual allowance, so the lab is not aware they are losing collectible cash.)
XIFIN RPM clients are able to automate their lab billing through:
The XIFIN system takes decision making out of the hands of clerical staff, and leaves it with lab leadership. The automation, electronic connectivity to payors and eligibility, and the automated rules engines mean that write-off are reduced while staff productivity improves. This is just one of the reasons that XIFIN clients are able to regularly improve their profitability by more than 50% when they choose to partner with XIFIN.
Download the datasheet today to learn more about how you can automate your laboratory billing.