Billing and Accounts Receivable

November 2020 - Vol. 9 No. 10 - Page #51

A substantial portion of the laboratory director’s role is striking a proper balance between clinical operations and business operations in a progressive manner. Many laboratories are employing advanced billing and accounts receivable systems to not only help gain and track outreach business, but to demonstrate cost savings and profits when seeking approval for new and advanced instrumentation and broader methodologies, in house. Transparent revenue cycle management (RCM) in laboratory outreach can enable expansion in the scope and quality of laboratory services overall, and advanced billing and AR systems help enable this process.

The use of a dedicated billing system for laboratory outreach has remained steady over the past few years, as just under a quarter of facilities are currently using such a system.

Smaller facilities are joining their larger counterparts in taking advantage of advanced RCM software.

Epic, Cerner, and McKesson lead this marketplace. The breadth of options available provide laboratory leaders with an array of excellent choices.

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