LBS understands the highly specialized nature of the lab billing revenue cycle. Started by laboratory professionals, our company focuses exclusively on lab billing to increase the speed and amount your laboratory collects.

Specialized Solutions For Every Type of Lab

LBS understands that every lab has unique needs and goals. From publicly-traded laboratories and hospital outreach programs to independent clinical and molecular labs, LBS can configure its workflows and systems to meet your laboratory’s needs. By providing individualized solutions for each client and streamlining as many front-end processes as possible, LBS will enable your lab to build an effective revenue cycle capability that increases collections.

With Laboratory Billing Solutions as your partner, you can expect:

• Lab Industry and Lab Billing Expertise – More than 80 years of industry-leading experience
• Improved Collections
• Actionable Business Intelligence and Analytics
• Leading Workflows and Processing

The Benefits of Outsourcing Your Laboratory Medical Billing Services

Laboratories are unique components of the healthcare industry. Its distinct nature creates certain challenges when it comes to billing operations. Despite those challenges, laboratories must always run seamlessly to ensure positive patient outcomes. 

For many laboratories, outsourcing medical billing services can be a way to organize their workflow. Partnering with laboratory medical billing services offers more than just the necessary revenue analysis. Our comprehensive approach also goes beyond the simple addition of a new software system. Partnering with Coronis offers the following advantages:

• Reduced administrative costs and improved cash flow – Maintaining an in-house billing department will involve additional software and training costs on top of your employees’ salaries and benefits. By outsourcing your laboratory billing services, you can reduce your overhead costs and promote a healthier cash flow.
• Reduced errors – Billing and coding errors can create a potentially large hit on your revenue. One mistake can result in a denied claim or delayed payment and may lead to future mistakes with costly results. Outsourcing with the right company that understands the intricacies of your laboratory will ensure you see fewer mistakes with billing. Reducing errors means your net collections increase, your denials decrease, and your service improves requiring less follow-up with patients and providers.
• Automatic verification – Outsourcing your verification services can improve accuracy and reduce the number of hours spent on operations with the help of an automated system. You won’t need to invest time, effort, and money into keeping your staff up to date on coding changes.

Laboratory Medical Billing Services RCM

Coronis Health offers a complete range of lab medical billing services. We work directly with you to create a focused revenue cycle strategy. Our integrated RCM process allows us to find and fix holes in your revenue cycle to generate maximum reimbursement.
By partnering with us, you can focus on expertly managing your laboratory while we take over the administrative tasks. That means improved cash flow and more time for you to focus on growing your lab. Our services include:

• Systems and Technology Integrations
• Focused Accounts Receivable Process
• Consulting

Coronis Health services every type of lab. With a team of laboratory billing professionals – many with actual in-house experience as former lab managers – our experts have the specialized training necessary to handle the unique challenges that labs of all sizes face. Types of laboratories we service include:

• Hospital Outreach and Outpatient Laboratories
• Clinical Laboratories
• Molecular Diagnostics
• Pain Management and Toxicology Laboratories
• Pathology/DermatoPathology

Laboratory Medical Billing Coding and Regulations; What to Know

Laboratory medical billing uses two primary sets of codes. The first is known as the International Classification of Diseases, or ICD, which is maintained by the World Health Organization (WHO). It is accepted as the international diagnostic and epidemiological standard and provides a tool that assigns codes, essentially providing a medical shorthand for diagnostic codes that classify diseases, signs and symptoms, external causes of diseases or injuries, and other complaints. Insurance providers expect the codes to be consistent between a condition and the treatment rendered. 

The second code set is known formally as the Current Procedural Technology Code Set and informally as the CPT, which is provided by the American Medical Association. It identifies services rendered rather than a diagnosis. The CPT code set is used to report medical, surgical, and diagnostic procedures and services to healthcare practitioners such as physicians, health insurance companies, and accreditation organizations.

Healthcare is a dynamic industry – regulations change to accommodate fluctuations with government requirements, insurance payers, and changes in technology and science. The Centers for Medicare and Medicaid (CMS) also implement strict guidelines for billing, so a medical biller must be up to speed on changes that can affect the billing process for a facility. 

Certified medical billers and coders are trained on how to apply coding that correlates correctly with clinical documentation and is consistently updated on any changes that apply to coding or billing procedures. Outsourcing your medical billing ensures that you are working with a team that focuses 100% of its time on billing. You will see an improvement in compliance with billing regulations as your outsourced billing is following the guidelines set forth by the government and CMS. 

Coronis Health Laboratory & Pathology manages billing and RCM in all US states. We are well-versed in the various regulations and compliance rules in each state, so you never have to worry about changing billing and coding procedures.

About Laboratory Billing Solutions

Founded in 2004, Laboratory Billing Solutions (LBS) processes millions of patient claims per year for some of the largest and most well-known hospital-based, independent, and specialty laboratories in the United States. LBS offers a fully integrated revenue cycle service that delivers industry-leading outcomes in service and collections to diagnostic laboratories. Offering full-service revenue cycle solutions, LBS provides a tailored service experience that leverages highly effective workflows and analytics to bring a premier revenue cycle capability to the laboratory industry.

LBS is headquartered in Portsmouth, New Hampshire but employs staff in eight different states to serve our clients.

Let’s Talk

Laboratory Billing Solutions | A Coronis Health Company
195 New Hampshire Ave
Suite 150
Portsmouth, NH 03801

Laboratory Billing Solutions & Coronis Health

Laboratory Billing Solutions has joined with Coronis Health to provide the most comprehensive lab billing services in the United States. Contact us for more information.