Laboratory Billing

Laboratories are a fundamental part of the medical domain. They are usually located near the hospitals or present inside the hospital. They help the physicians in diagnosing and curing the patients. 

Significance of Laboratories in EHR and diagnosis

Hospital’s lab might earn only 3 to 5% of profit, but its detections account for 70 to 80% of a patient’s EHR. 

According to CDC, 70% of medical decisions are dependent on the lab test results. 

The distinctive set of CPT codes for Lab Billing Practices

Labs use specific CPT codes. These codes determine the specimens obtained from a patient’s sample. Complete knowledge of the laboratory billing codes is mandatory to perform the laboratory billing. 

Outsourcing Laboratory Billing can be a blessing in disguise

Revenue is a cardinal point for Lab practices, and most lab staff are lab technicians. Those lab technicians already performing various specimens testing and other procedures can’t manage the coding exertion smoothly. Laboratory billing practice can be hectic and tiresome, as every lab test is billed through a different CPT code. So, the medical billing company can perform its best management as they have skilled experts using innovative software to ensure streamlined RCM.

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