Clinical Lab Billing Services
TRCB customized lab billing solutions are designed to address the unique needs of all testing facilities from clinical laboratories to pathology centers. Our clinical lab billing services include coding, claims processing, denial management, AR recovery, and more for comprehensive financial management.
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Results-Driven Clinical Lab Billing Services
< 30
Days in AR
25-30%
Revenue Increase
97%
First Pass Ratio
96%
Collection Ratios
98%
Clean Claims Rate
Overview of Clinical Lab Billing Services
Running a clinical lab while managing the medical billing process on your own is not an easy feat. Clinical and reference labs encounter multiple challenges while managing their billing and payment cycles.
Clinical lab billing is a complex process that requires interactions between the lab, pathology group, and the payer. After running the prescribed tests, the lab must assign diagnostic and procedure codes to indicate which services were performed. They must handle claim submission and oversee the collection process, including follow-ups for timely payments.
TRCB offers professional clinical lab billing services to help you stay on top of your competition:
Pre-test eligibility verification
Claim creation and submission
Claim follow-up, rework, and resubmission
Real-Time claim tracking
Efficient denial management
100% HIPAA Compliance
Documentation and Follow-up
Common Challenges in Clinical Lab Billing
As a clinical lab, you must realize the importance of efficient payment processes and invoicing. But are you still struggling to optimize your clinical lab billing processes? The common challenges dragging your lab down can be one or all of the following:
High Claim Denial Rate
Clinical labs struggle with claim denials — a problem made even worse by the different communication requirements of each payer.
Lake of Patient Awareness
Medical billing can be confusing for patients — many don’t know if they need a referral or why their coverage has changed. This makes it even harder for labs to keep patients properly informed about their billing.
Claim Denial and Rejection
Claim denials happen for many reasons — missing information, wrong patient details, or lack of pre-authorization. Finding the cause and fixing it fast is critical to stopping revenue loss.
Inaccurate Coding
Incorrect or over-coding is one of the most common issues in medical billing. It not only causes claim denials but also leads to heavy penalties and damages your practice’s reputation.
Inaccurate or Incomplete Patient Data
It is the most common reason for a payer to reject a claim. The reasons for such claim denials and rejections vary from missing required fields to spelling errors.
Inadequate Supporting Documentation
Insurance companies require supporting documentation to settle claims by laboratories. They will not think twice before denying a claims if you fail to submit the requirement details.
Multiple Claims Filing
Most laboratories find it unpleasant to file repeated claims, specially if they offer especially healthcare testing services. Since no tools are available for generating multiple claims at once, they might end us submitting each claim separately. As a result, the staff feels exhausted and more involved in doing the documentation.
Payment-Associated Issues
Billing challenges extend beyond denials. Clinical laboratories must also navigate other payment-related issues, including denied pre-authorization, delayed payments, and pricing disputes.
Outsource Clinical Lab Billing Services to TRCB
Healthcare labs often face challenges in managing their revenue cycle and complying with billing regulations, which can be costly and overwhelming.
However, when you outsource your clinical lab billing to TRCB, you get access to certified coders and billing specialists who are well-versed and experienced in providing clinical medical billing services. Some other benefits are listed below:
Increased lab cash flow with streamlined operational processes.
Reduced billing and coding errors.
A dedicated team of certified coders and clinical lab billing specialists who are constantly upgrading their skills and knowledge with ever-evolving regulations.
A team of clinical lab billing professionals will process claims faster than your in-house billing team who are often tasked with other responsibilities.
Enjoy automated benefit and insurance eligibility verification.
Efficient denial management and resolution.
100% HIPAA Compliance
Documentation and Follow-up
Serving Clinical Lab Nationwide
TRCB leverage remote operability and virtual systems to deliver clinical lab billing excellence nationwide. Our certified professional coders and medical billing experts use their deep understanding of local regulations and industry guidelines to file clean claims, fight denials, and foster revenue. Contact us and transform your clinical lab with a company with an experience that counts.
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Competitive Pricing Guaranteed
Receive your reimbursements at the lowest prices! TRCB provides clinical lab billing services at some of the most competitive rates in the market. Enjoy customizable solutions! Contact us to get in touch now.
Frequently Asked Questions
Answers To Common Questions
What makes TRCB the best outsourcing choice for clinical lab billing services?
Our success is measured in numbers. By partnering with TRCB for your clinical lab billing needs, you get the assurance that we can increase your clinical lab’s revenue by up to 30% by relentlessly chasing unpaid claims. With a team of certified coders and billing experts, we transform the financial performance of your facility within months.
How much does it cost to outsource clinical lab billing services to TRCB?
TRCB is a cost-effective alternative to many other top names. Our clinical lab billing services typically cost a small percent of your total revenue monthly collections.
What are benefits of outsourcing clinical lab billing services?
Outsourcing clinical lab billing services offers the following benefits:
Reduced Operational Costs
Access to Experts Staying Abreast with Modern Technology
Patient Satisfaction
Revenue Growth
100% HIPAA Compliance
Data Protection
What is the most challenging aspect of clinical lab billing services?
Keeping up with the ever-changing regulations and ensuring compliance are the biggest hurdles in clinical lab billing. Healthcare providers and their team of medical coders and billers must stay abreast of the revisions in coding guidelines, payer policies, and government rules and regulations to submit complete and accurate claims on time and secure maximum reimbursements.
TRCB provides VIP, white glove revenue cycle management for healthcare organizations to maximize your revenue, reduce denials, and ensure faster reimbursements.
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