Coronis Health, Laboratory & Pathology

Account Management, Financial Analysis and Reporting

Coronis Health improve your medical billing process in Sykesville, MD

Let our staff of professional lab billing experts at Coronis Health provide you with a detailed assessment of your laboratory’s billing functions. We are highly experienced at analyzing and identifying revenue cycle problems. Our assessments are customized to the needs of the client and their particular situation at the time, but can include:

We are confident that our detailed assessment and follow-up recommendations will translate into major cost savings and revenue recovery opportunities for your laboratory.

What We Offer

Reporting & Analytics

We know how important it is that our clients have proper financial reports and analytics so that they can make the best business decisions. Coronis provides outstanding and comprehensive analytical data back to the client in various ways. Clients have complete access to Coronis Health’s systems for complete control and all patient financial data, transactions, notes, and reports are available to clients at all times.

Reports

Coronis Health provides clients with system reports which cover all aspects of billing and accounts receivable management. These reports can be run by the client or may be requested from Coronis. We can also arrange to have end-of-month reports sent automatically to the client electronically, eliminating the need for the client to access the system.

PBI Analytics

Coronis Health provides clients with our industry-leading Precision Business Intelligence (PBI) analytics system. This is an interactive reporting and analytics tool which provides incredible insight into your data. Data can be viewed in a number of ways and can be filtered and sorted accordingly. Additionally, reports can be exported (ie. to excel). Coronis Health analytics provides you with the detailed information you need to make the best business decisions to improve your bottom line.

Actionable Business Intelligence

Along with expert lab managers and billing professionals, Coronis Health wants each of our clients to have business intelligence that they can quickly interpret and act upon. That’s why we developed our Client Dashboards.

The Client Dashboards were developed by our industry experts in concert with outside advisors to provide lab management with a framework and key indicators for evaluating and improving performance. In today’s ever-changing and increasingly challenging healthcare environment, it is more important than ever to understand how you are being paid, by whom, and where cash is being left on the table. The Coronis Health Dashboards leverage Date of Service based reporting so that lab directors and management can quickly understand these complex relationships and act on financially lucrative opportunities.

Each dashboard highlights a different area of the business where the lab could improve billing outcomes or take actions to increase collections. In addition to the standard month-end reporting dashboard, there are dashboards that look at client, payor, edit, sales, and patient payment performance. However, the summary dashboards are only the starting point to examine trends and define possible initiatives. Each dashboard can be immediately broken down and/or trended by a vast number of parameters including; Financial Class, Payor, CPT Code, Specialty, Client, etc. to permit lab leadership to fully understand what specific levers should be addressed.

Actionable Business Intelligence -> Laboratory Financial Dashboard

A Business Intelligence dashboard or BI dashboard is an information management tool that utilizes data visualization to display the status of key performance indicators (KPIs) to assess data points and other business metrics while generating actionable insights. In essence, a BI dashboard allows any business to employ a tech-driven approach to analyzing and visualizing data (e.g., charts and graphs on a single screen), providing users with a big picture of a situation it is assessing and managing.

BI dashboards avoid potential clutter from complex sets of information by organizing data cohesively. Data representation tools allow you to produce various visualization instruments that let you interpret data and transform them into insights that provide your laboratory with unrivaled value. Specifically, these are the benefits of using a BI dashboard:

Coronis Health Five Workers at a Meeting Sykesville MD

Financial Reporting for Labs

Automated financial reporting for labs streamlines processes for your team. You will no longer have to go through the tedious and time-consuming task of sifting through paper trails or multiple systems to retrieve or update financial statements. Instead, a software application will automatically pull data from the system/s for easy consolidation and generation of financial reports in a timely manner. Not only will automation free up plenty of time for your team, but you will reap additional benefits such as:

Payroll for Labs

Because payroll involves large amounts of data, the task not only is time-consuming but requires a lot of precision as well. An automated process, therefore, ensures a smoother accounting process by utilizing a computerized system to record all wage details, calculate deductions and benefits, and provide reports to tax authorities in an accurate, efficient, and timely manner.

Additional reasons to use payroll automation include:

Accounts Receivable for Labs

By going digital, you enable the streamlining of your accounts receivable which shortens long order-to-cash (OTC) cycles, maximizes your cash flow, helps you avoid compliance and security risks, and ultimately positions your lab as an industry leader.

Break free from old, manual accounting processes and switch to digital to enjoy the following benefits.

Your Lab Financial Consultant

Coronis Health is more than a billing company. We also provide consulting services to physicians and other healthcare practitioners looking to start a business, improve business operations, or develop strategies for enhanced business opportunities. Our a la carte consulting services allow us to act as your financial consultant, tackling your healthcare practice’s strategic business challenges and goals.

Coronis Health is a leader in providing tailored business solutions that positively affect the bottom line of forward-thinking integrated health systems, hospitals, a multitude of outpatient centers, laboratories, clinics, and physician practices across the nation. As technological innovators, we don’t just focus on the most advanced software and applications, but the most cutting-edge systems and processes too, enabling our healthcare partners to thrive and grow. We empower our partners to prosper by maximizing their revenue opportunities and facilitating focus on patient care. We achieve our goals by delivering world-class financial results via the best financial and digital infrastructures available today.