As the laboratory market continues to become more and more complex, labs struggle to be efficient and collect cash expediently for the services they provide. One of the most important components to meet these challenges is the lab’s billing system. Whether it is an independent reference lab, a pathology practice or a public health lab, the billing system is critical to success.
Take Control
TELCOR’s Revenue Cycle Management system is designed to allow your lab to efficiently and effectively control the billing and collection process, improve client and patient satisfaction, provide tools for monitoring, as well as real-time metrics for timely decision making.
Our software is specifically designed for the unique challenges of all laboratories and the specific billing requirements of lab specialties: including clinical, molecular, pathology, public health, environmental and mobile radiology testing provided to their customers: including hospitals, physician offices, pharmacology businesses, clinics and nursing homes.
We have developed a modular, user-configurable, rules-based solution that allows it to meet the billing requirements of any testing organization. Our system is designed to efficiently and effectively control the billing and collection process, while providing real-time metrics for business management. The system is built to allow for great flexibility and an optimized workflow to accommodate an organization’s growth with the minimum amount of resources.
Productivity & Profitability
Our solution helps billing managers monitor and manage their day-to-day billing processes with real-time tools to monitor key performance indicators. By automating many common billing tasks, this system eliminates errors, improves productivity and streamlines workflow, which results in reducing Days Sales Outstanding (DSO) and improves profitability. The system provides a clear picture of where your organization stands financially and provides a powerful set of reporting statistics, metrics and analytics to aid in business management.
With TELCOR’s Revenue Cycle Management system, you can provide your clients and their patients with better service and pass along many of the system’s great benefits, such as unlimited fee schedules, customized invoices, full HIPAA and ICD-10 compliance, complete patient history (patient-centric system) and the submission of clean, compliant transactions to payers, guarantors and clients.
Do More With Less
As labs continue to be asked to do more with less, tools such as TELCOR’s Revenue Cycle Management solution are necessary to automate functions and lessen manual tasks, while providing the billing processes that meet all federal, state and payer requirements, as well as your own business needs. A rules-based system is important as labs struggle to manage their complex billing processes. With so many variables possible for any one testing specialty, it is imperative that the billing system can be adapted to each laboratory’s unique requirements, which is one of the greatest strengths of our solution. The TELCOR system addresses the labs needs to improve profitability, aggressively compete in the marketplace, improve client satisfaction and, most importantly, bill and get paid for the services provided.
> Contact a Revenue Cycle Management Account Executive for more information.