One of the most common problems laboratories experience is not having a handle on their billing processes. A number of laboratories bill through their hospital billing systems and do not necessarily know whether they're collecting all they should be, or if there is a high number of write-offs being performed in patient accounting. Colaborate will perform all billing functions needed, maximizing reimbursement and revenue.
Each laboratory using Colaborate's billing service will also have individualized reports readily available, assisting in the determination of whether money is being lost due to any number of factors (e.g., due to a lack of Medical Necessity).
With the ongoing CPT changes and legal ramifications of billing for incorrect testing, it is important to ensure the chargemaster has all of the proper codes connected with the Laboratory Information System (LIS). Colaborate, utilizing the services of our subject matter experts, will review the laboratory's chargemaster ensuring the test coding is correct, beginning with a review of each LIS test and the code attached in the billing system. Included in this comprehensive review is an assessment of the revenue code attached to each test.
A final report will be given to each organization, outlining each suggested CPT and revenue code change. An evaluation of rational charging is included with this report, along with a suggestion of pricing rational taking into account market sensitivity.
With today's transfusion world becoming more complex, and with more products and services becoming available, billing for this important service shouldn't be taken lightly. Colaborate has provided client laboratories with a comprehensive review of their chargemasters' CPT, HCPC, and revenue codes to help ensure the organizations are billing for test and products with the most appropriate code according to industry standards.
Colaborate, employing subject matter experts in Transfusion Services, provides a comprehensive compliance review of the Transfusion Departments' processes related to CMS, AABB, and CAP standards.