Simplified Billing and Revenue Cycle Management for Pathology Labs
SpeedsPath enhances billing accuracy and timely delivery with automated billing to maximize reimbursements
Billing/RCM Accuracy
Efficient billing and revenue cycle management (RCM) streamline financial operations for pathology labs, ensuring accurate coding, timely claims processing, and faster reimbursements. Automated verification, electronic submissions, and compliance-driven security measures reduce administrative burdens while optimizing revenue collection.
Hassle-Free Billing & Revenue Cycle Management (RCM) for Pathology Labs
Efficient billing is the backbone of a laboratory's financial health. SpeedsPath Billing & Revenue Cycle Management (RCM) solution simplifies the process with automated coding, timely claim tracking, and secure transfer of optimal pathology case billing data to a number of claim processing systems. Our system ensures accurate ICD-10, CPT, SNOMED, and LOINC code-based billing, minimizing errors and accelerating reimbursements.
Seamless & Accurate Billing for Pathology Laboratories
SpeedsPath helps laboratories to automate, verify, and streamline RCM workflows, reducing administrative burdens and ensuring timely payments. Our system enables validation and editing of billing data before submission, significantly improving claim acceptance rates. This enhances operational efficiency of the lab billing departments and is integrated with our anatomic pathology laboratory information system and other pathology lab software.
Key Features of SpeedsPath Billing Solutions
Standardized Medical Coding: The software supports ICD-10, CPT, SNOMED, and LOINC codes to ensure accurate billing and compliance. Automated Billing Verification: This ensures billing data accuracy by validating and disallowing certain combinations of codes. It also enables the review and editing of billing codes prior to final submission. Electronic Claim Submission: Automatically sends billing data to external billing companies through various electronic interfaces utilizing protocols and file types, such as HL7, CSV, and Microsoft Excel. Flexible Data Export Options: Laboratories can export billing data in CSV and XLS formats for detailed reporting, analysis, and claim management. Group-Based Billing: Allows labs to assign multiple claims within a group for streamlined management and efficient batch processing.
Optimizing Revenue Cycle Management (RCM) through Automated Billing & Efficient Claim Management
SpeedsPath automates billing workflows from complete and validated billing data submission to reimbursement tracking, minimizing delays and improving cash flow. Our solution enhances accuracy and efficiency through meaningful integration with our pathology laboratory information system.
Compliance & Data Security
Our platform ensures HIPAA compliance and adheres to regulatory requirements, safeguarding patient-protected health information (PHI) and financial transactions. Our system provides data security at every step, both while it is at rest on a storage device and during transfers.
Claim Analytics & Reporting
Our detailed billing reports allow laboratories to gain timely insights into their financial performance, including revenue trends and reimbursement rates. This empowers them to make informed business decisions. We offer not only a performance dashboard but also a number of case count and operational statistics reports. If our lab partner desires a custom report, our highly skilled technical consulting team is prepared to dive in as they have done before to satisfy the need in a timely manner.
Cost Allocation for Lab Tests
SpeedsPath supports cost allocation for technical and professional billing components (TC/PC split), ensuring reimbursements are processed fairly for revenue-sharing arrangements. Such options are designed into our AP LIS. Billing and revenue sharing may span insurers, patients, referring clients, and pathology labs.
Why Choose SpeedsPath for Billing & RCM?
Automated & Error-Free Billing: Reduces claim denials and administrative workload. Faster Reimbursements: Improves claim acceptance rates with verified and accurate billing data. Scalable & Flexible: Supports CSV and XLS data exports for offline analytics, data pivots, data warehousing and AI. Secure & Compliant: Ensures data security, HIPAA compliance, and reliable financial reporting.
Transform Your Lab's Billing Process and Revenue Cycle Management Today!
With SpeedsPath advanced billing solutions, laboratories can enhance billing accuracy, reduce administrative efforts, and maximize speedy revenue collection. Our pathology and diagnostics lab management software provides a comprehensive solution for financial management and operational efficiency.
Get started today and experience a more efficient revenue cycle!FAQs on Billing/ Revenue Cycle Management (RCM)
How does SpeedsPath ensure accurate billing?
SpeedsPath integrates ICD-10, CPT, SNOMED, and LOINC coding standards with automated billing verification and validations by billing experts before submission, reducing errors and improving claim acceptance rates.
Does SpeedsPath support electronic claim submission?
Yes, the system allows automated claim submissions to external billing providers via HL7, CSV, and Microsoft Excel file formats.
How does SpeedsPath improve claim acceptance rates?
The system minimizes claim rejections by validating and enabling editing of billing data before submission, ensuring faster payments and smoother RCM operations.
Does the system support cost allocation for technical and professional billing?
Yes, SpeedsPath supports TC/PC split billing, ensuring fair revenue distribution among pathology labs, insurers, patients, and referring clients.
Why should pathology labs choose SpeedsPath for billing and RCM?
SpeedsPath offers automated, error-free billing, faster reimbursements, flexible reporting, and secure financial management, enhancing overall lab efficiency. Our billing system shares the same single database with LIS.