Whether you run a small or large clinical laboratory, you must still bill for your services. The clinical lab marketplace is highly competitive, so streamlining processes and eliminating manual tasks is critical for success. TELCOR’s Revenue Cycle Management solution has been developed as a scalable solution that will fit the needs and challenges faced by a lab of any size or structure. Our solution helps clinical labs automate manual processes, eliminate errors and denials with comprehensive rules processing, that provides flexible pricing, customized invoices and a understanding of your business metrics.
Anatomic/pathology testing organizations must have a strong understanding of their business metrics and often struggle to have a clear picture of their financial status. Maintaining regulatory compliance, meeting the complexities of billing for professional and technical components and processing your own claims are all reasons why many pathology labs choose to outsource their billing to a billing service. However, using TELCOR’s Revenue Cycle Management solution will not only meet these billing needs but will also save you time and money by bringing your billing in-house. With the option to host the system yourself or use the SaaS (Software as a Service) model, you can have more control over your billing while saving more money and having real-time access to where your lab program stands financially.
A molecular diagnostics lab has its own set of complex challenges for ensuring reimbursement for tests that are performed. As one of the newest and fastest growing segments of laboratory testing, many molecular labs are finding themselves overwhelmed by the billing and reimbursement obstacles they are facing. TELCOR’s Revenue Cycle Management solution has the tools needed to overcome these obstacles and provide a clear picture of where your lab stands financially at all times.
Public health and environmental labs have many state-specific restrictions that must be followed, making it difficult to use a billing solution that is one-size-fits-all. TELCOR’s Revenue Cycle Management solution was developed using the latest technology, which will allow you to configure the application to meets its unique needs and requirements. This includes the ability to bill to multiple payers, create unlimited fee schedules and multi-tier pricing, perform general, client and financial rules, apply contractual adjustments and perform client billing. Our billing solution also provides a wide range of financial reporting tools that will provide your lab with a real-time understanding of where your lab program stands financially.
Mobile Radiology businesses servicing the nursing home market need a Revenue Cycle Management solution that streamlines client billing when performing services on a patient in a skilled bed versus payer billing when a patient isn’t in a skilled bed with easy way to change responsibility as the billing process progresses. Additionally, they need a system that meets the place of service requirements to submit clean and compliant claims for the patients they serve. The TELCOR rule engine allows customized pricing and invoicing to promote satisfaction for the customers serviced, while also producing clean and compliant claims that improve cash flow.
