Our business model of partnership and advocacy has earned us an unprecedented client retention rate. The partnership begins from day one and extends through the life of your relationship with LabRCM. Three key aspects guide this relationship: an alignment of goals, maximized use of rules-based automation, and active pursuit of continuous improvement.
Initial project planning and preparation is critical to a successful implementation and go-live. Our approach, illustrated graphically below, ensures uninterrupted cash flow during a transition to our services.
LabRCM's performance-based value proposition forms the basis of our working relationship; it ensures that our success and our customers' success go hand-in-hand. Amid a sea of constant regulatory, procedural, and policy change, LabRCM stays committed to your success. As part of our managed services, we stay on top of all these changes and perform the necessary edits and updates—dozens each month—so that claims always conform to payor and regulatory specifications.
LabRCM leverages today's premier revenue cycle management platforms with a focus on cloud-based functionality, and combines the attributes of these systems with proven operational processes. Further, by combining the base platform with our back-end support team and various third party vendor applications, we provide the ultimate utilization of resources. LabRCM maximizes the automation of best practices workflows, ensures fast and clean claim submission, and improves cash collected.
LabRCM solutions advocate the policy of laboratories retaining key communications with their referring clinicians, keeping their finger on the pulse of the relationship while assuring that information critical to getting paid for services is obtained. To be effective in this effort, laboratorians need an RCM platform and process that supports this effort and can leverage the intel obtained to capture revenue faster, manage laboratory claims filing more effectively, and maximize profitability.
"When choosing an RCM partner our concern was how to minimize cash issues associated with a change in software and service providers. LabRCM was able to create a plan that made sure cash was flowing during the transition. Communication is excellent. We can pick up the phone and always get our questions and concerns answered swiftly with defined action steps. Our move to LabRCM has been a perfect partnership for our Lab!"
- President, Tennessee Laboratory
"Since selecting LabRCM as our strategic revenue cycle partner a year ago, we have worked together to overhaul our RC process, significantly improving our cash flow and profitability. As the relationship has evolved, we migrated more and more RCM tasks from our internal team to LabRCM’s Dallas based processing center. This has allowed us to refocus resources on our clinical and client experience activities."
- President, Louisiana Laboratory
To be successful experience is key. Our team is highly experienced in dealing with complexities of laboratory billing.
The customer comes first! Success and service come hand-in-hand.
Custom reporting, weekly and monthly status meetings all centered around the data that’s important to our clients.
Contact us today!
LabRCM’s principals have over 75 years of combined laboratory revenue cycle management (RCM) experience. We have overseen numerous implementations and offer ongoing RCM services on an outsourced basis.
Our expertise includes:
Payment Optimization Strategies
Front end claim submission error processing
Proactive denial management
Under-reimbursement recognition and recovery
Out of network and self-pay tactics
Maximization of our inherent capabilities
Direct connections with payers