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Clinical Lab Billing

Focus on Your Expertise, Not Clinical Lab Billing Rules

Tired of spending hours on complex codes, chasing down denials, and dealing with inaccurate reimbursements? Hold your horses! We offer the most innovative and compliant clinical lab billing services so you focus on your excelling expertise.

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First-Pass Claim A/R
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Overall Lab Collection Increase
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Your Trusted Partner in Clinical Lab Billing and Revenue Cycle Management

As one of the best clinical lab billing companies in the US, we have in-depth knowledge about regulations, coding requirements, and claim submissions to ensure accurate and timely payments for your laboratory services. We’ve helped many American clinical laboratories increase their revenue up to 31% saving on their lab’s resources and staff time. We offer a comprehensive solution designed to streamline your clinical lab billing and revenue cycle management, allowing you to maximize reimbursements and reduce administrative burden.

Why LBS for Optimized Clinical Lab Billing

We offer a comprehensive solution designed to simplify your clinical lab billing processes, maximize your clinical lab’s reimbursements, and free you up from administrative tasks and overheads.
clinical lab billing

Utilize Clinical Lab-Specific Expertise

Our team of experienced clinical lab billing professionals handle accurate billing to ensure faster reimbursements to keep your cash flow healthy so you can invest in new clinical lab equipment and minimize your downtime.

Stay ICD-10 Coding Compliant

Stay current on all clinical lab regulations, coding updates and industry changes to ensure your clinical lab billing practices are compliant. This not only minimizes the risk of costly audits but also fosters trust with both patients and payers.

Optimize Your Clinical Lab Workflows

Standardized protocols are crucial for clinical lab efficiency. We standardize your testing procedures and workflows and simplify your billing process  to reduce the risk of errors, leading to cleaner claims and faster reimbursements for your clinical laboratory. 

Get Data-Driven Lab Insights

Identify trends, optimize resource allocation, and make informed decisions that drive your lab's financial success. We offer state-of-the-art clinical lab billing solutions that empower you to capture, analyze, and use valuable data effectively. 

In-House / Generic VS LBS Clinical Lab Billing

Clinical Lab Overheads
Lab Billings Collected
Clinical Lab Collections
Total Collection Costs
Net Collections

In-House / Generic Billing

Clinical Lab Overheads
$24,000
Lab Billings Collected
60%
Clinical Lab Collections
$287,623
Total Collection Costs
$37,500
Net Collections
$262,500

LBS Clinical Lab Billing

Clinical Lab Overheads
$0
Lab Billings Collected
97%
Clinical Lab Collections
$397,589
Total Collection Costs
$26,850
Net Collections
$323,150

Exceptional Financial Results for Your Clinical Lab

Don’t settle for average results. Our commitment to best-in-class clinical lab billing practices ensures your clinical lab receives high returns compared to industry standards.
  • 99% Gross Collection Rate (GCR)
  • Swift Claim Submissions (24 Hours)
  • 99% Clean Claims Ratio
  • 0.49% Lab Claim Denial Rate
  • Less Than 15 Days A/R Aging
  • Efficient Lab Workflows

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Our Smooth Clinical Lab Billing Process

Take the complexity out of clinical lab billing with a solid process designed to maximize efficiency and accuracy:

Verification

We confirm patient insurance coverage and benefits to ensure upfront clarity on what's covered.

Transcription

Our team seamlessly transcribes clinical lab tests, eliminating errors and ensuring accurate coding.

Coding

Our certified clinical lab coders apply the current CPT codes for labs to maximize reimbursement. 

Submission

We submit clean claims electronically for faster processing and quicker clinical lab reimbursements.

Payment

We do the payment posting and track A/R to ensure you receive the full amount you deserve, on time.

Why Outsource from LBS & Not DIY or Generic Third-Party Medical Billing Company

Managing the complexities of clinical lab billing in-house can be a burden, diverting your focus from your core lab operations. While some clinical labs opt for generic third-party billing companies, these consultants may lack the specialized knowledge required to maximize your clinical lab’s revenue.

LBS’s Clinical Lab Billing Solutions

In-House / Generic Medical Billing

Deep industry expertise specific to clinical lab billing.

Seamless integration with your existing Lab Information System (LIS)

Streamlined workflows for accurate billing and coding errors.

Dedicated account management customized to your clinical lab’s needs. 

Proactive approach to manage clinical lab claim denials. 

Customized reporting for clear insights into your lab's financial performance

Laboratory Revenue Leakage

Manual data entry and coding are prone to errors, increasing denials.

May not offer dedicated account management for your lab's needs.

Denials are only addressed after they occur, leading to lost revenue.

Limited reporting with no insights to help you optimize your revenue cycle.

High staff turnover, disrupting workflow and requiring constant staff training.

Convert Your Clinical Lab Bills Into Dollars Fast

We help you identify workflow breakdowns and revenue leakage so we can start working immediately to up your clinical lab’s financial performance and minimize the risk of compliance-related penalties. 

Seamless Integration With Your Existing LIS

These are just a handful of Laboratory Information Management System and EHRs we can seamlessly integrate with our clinical lab billing services. 

The Most Comprehensive Clinical Lab Billing Services

Our clinical lab billing agency offers all-in-one solutions to optimize your billing cycle, ensuring increased lab’s revenue.

Insurance Verification & Pre-Authorization

Insurance Verification & Pre-Authorization

Say goodbye to the frustration of denied claims due to coverage issues because our dedicated team verifies a patient's insurance coverage and pre-authorization for specific lab tests before you perform them to ensure you receive the appropriate reimbursement

Accurate Coding & Charge Capture

Accurate Coding & Charge Capture

Our team isn't just any medical lab billing team – we're certified clinical lab coders with a keen eye for detail who ensure each lab test is coded accurately using the latest medical coding standards (CPT, HCPCS) to help you capture every dollar you deserve.

Efficient Lab Claim Submission

Efficient Lab Claim Submission

Our clinical lab billing experts handle the entire claim submission process electronically, getting your bills to premium payers quickly and efficiently to accelerate your cash flow, ensuring you receive timely and faster reimbursements for your clinical lab services.

Lab Claim Denial & Appeal Expertise

Lab Claim Denial & Appeal Expertise

Thanks to our extensive experience in denial and appeal management, we don't just accept a "no" and fight for every dollar owed with clear communication and in-depth knowledge of insurance regulations. Denied claims shouldn’t hold your revenue back!

Patient Billing & Collections

Patient Billing & Collections

Our expert clinical lab billers handle the entire process, from sending accurate and easy statements to patients to following up on outstanding balances efficiently to ensure you receive timely payments while maintaining a positive provider and patient experience.

Regular Reporting & Analytics

Regular Reporting & Analytics

Accurate and timely reporting is crucial for effective decision-making. As part of our comprehensive clinical lab billing services, we offer regular reporting and analytics to give you valuable insights into your lab's financial performance for informed decisions. 

Dr. Evelyn Wright

Director of Clinical Lab
“For years, we struggled with an in-house billing team, facing a high denial rate and sluggish collections. Then we partnered with LBS billing solutions designed specifically for clinical labs, and we started seeing a 29% rise in our revenue.

Dr. Mark Garcia

Chief Medical Officer
“LBS transformed billing for our clinical laboratory! They have helped us decrease our denials to 1% and increase our clean claims to 99%. The A/R days slashed by 45% and we started seeing the boost in lab revenue by 31%”

Susan Miller

Clinical Lab Administrator
“After we partnered with LBS, our clinical lab claims are now submitted within hours of test completion. Their expertise minimized denials (3%) and maximized collections (97%). And they finally cut A/R days in half!”

Increase Your Revenue to Up to 31% With Advanced Clinical Lab Billing Solutions

See how we can help your clinical laboratory unlock its full potential for revenue during our free consultation call.
clinical lab billing
LBS is a full service, lab-specific medical billing company that optimizes the entire revenue cycle and billing process to ensure laboratories get reimbursed faster and on-time so you can focus on providing exceptional lab services.
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