Advanced Tools Help Reduce Laboratory Denials, Expedite Re-Work, Boost Collections

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Research shows the 5-to-10 percent of medical claims rejected by insurance companies account for 90 percent of provider organizations’ missed revenue opportunities.

Clinical laboratories cannot afford to leave money on the table in today’s healthcare environment. Yet denied claims continue to be a significant source of revenue loss for many organizations. By some estimates, the 5-to-10 percent of medical claims rejected by insurance companies1 account for 90 percent of an organization’s missed revenue opportunities.2 The impact of this lost revenue is made worse by the dramatic reductions in testing fees imposed by the Protecting Access to Medicare Act (PAMA), as well as the rise of high-deductible health plans. As patient pay responsibilities increase, so too does bad debt exposure for provider organizations. This makes it imperative that laboratories collect every dollar they’re entitled to from insurance companies.

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