Medical Billing Services for Labs

Never Worry About Billing Again with Our Comprehensive Medical Billing Solutions for Labs

As a lab owner or executive, managing your labs billing program is both a necessity and a curse. You need to bill your payors correctly and in a timely manner so that you can maintain a sustainable cash flow, but the burdens of medical billing in todays world can also increase your costs while also increasing your risk of facing an audit or investigation.

At Fortis, we take the burdens of managing your labs billing program off of your shoulders. We offer a variety of medical billing services for labs, including end-to-end managed billing solutions. In doing so, we rely on a state-of-the-art medical billing platform that is automated, intelligent, customizable, and fully secure.

What are your biggest complaints and concerns about medical billing? For most lab owners, they include some (or all) of the following:

• How do I know if my labs billing compliance program is adequate? How do I know if my labs billing administrators are putting us at risk?
• How can I make sure all of my labs reimbursement requests are coded correctly?
• Why arent all of my labs payors handling our reimbursements as quickly as they should?
• Why are so many of my labs reimbursement requests being denied?
• How can I reduce the costs and headaches involved with billing so that I can just focus on business development?

We can help you address these issues—and many more. If you are looking for an efficient, hands-off approach to medical billing that reduces your denial rate and days to payment while also reducing your risk of making costly billing and coding mistakes, we encourage you to contact us for a free consultation about how we can help.

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How We Help Labs Manage Medical Billing More Efficiently and Effectively

We offer several solutions to help labs manage their medical billing more efficiently and effectively. This includes helping labs bill faster and more accurately, managing reimbursement requests from end to end, and managing payment delays and denials to improve cash flow. In doing so, we rely on the unique combination of our consultants expertise and our state-of-the-art medical billing technology platform:

1. A Team of Experts in Medical Billing

Fortis was founded by a federal healthcare compliance lawyer who saw a better way for labs and other providers to manage their billing programs after representing thousands of clients in billing audits and investigations. Today, our team includes former agents with the Department of Health and Human Services Office of Inspector General (DHHS OIG), Drug Enforcement Administration (DEA), and other federal agencies who spent decades investigating medical billing fraud before entering the private sector.

The scope of our experience is unique within the medical billing industry. This allows us to offer deep insights and custom-tailored advice to lab owners and executives, and it allows us to improve and effectively manage our clients medical billing programs with a specific focus on the issues that lead to problems.

2. An Automated and Customizable Technology-Driven Solution

Our medical billing platform uses automation and artificial intelligence (A.I.) to enhance efficiency and eliminate errors. Whether you choose our managed billing services for your lab or you choose from our suite of other medical billing services to maintain your billing operations in-house, we will assist you with transitioning to our platform so that your lab can reap all of the benefits that our platform has to offer. These benefits include:

• Automation and A.I. that eliminate the possibility of mistakes due to human error
• Access 24/7 on all devices as a result of full mobile integration
• Custom-tailored interfaces and use cases focused on your labs specific needs
• Enhanced protection for your labs data through multiple layers of security
• Smart solutions that allow for effective management of your labs medical billing

In todays world, an effective medical billing system is critical for both billing compliance and billing management. We combine our state-of-the-art solution with our consultants centuries of combined expertise to offer truly end-to-end solutions to labs across the United States.

3. Benchmarking, Auditing, and Managed Billing Solutions

Managing your labs billing and measuring your labs improvement start with effective benchmarking. We benchmark all aspects of our clients medical billing practices so that they can see where their risks lie and where they have room for improvement. Auditing is critical as well, and we provide comprehensive medical billing and coding audit services to our clients so that they can address any systemic issues within their operations before they lead to delays, denials, or external scrutiny.

Many lab owners and executives prefer a completely hands-off approach when it comes to medical billing. For these clients, we offer managed billing solutions that take their billing operations completely off-site. Relying on our medical billing software and expertise, we handle all aspects of these labs billing programs, from pre-billing contracting and setup to post-billing claim tracking, denial management, and collections.

The Proof that Our Medical Billing Solutions for Labs Work

Why should you choose Fortis for your labs medical billing needs? Simply put, our solutions work. We help labs and other providers nationwide improve their billing success rate, reduce their number of outstanding claims and days to payment, and minimize their risk of facing audits from private insurers, Medicare and Medicaid, and other payors.

So, what can you expect when you choose Fortis? Here are the numbers that prove our medical billing solutions work:

• 15 Percent – We have helped our clients increase their net patient revenue by an average of 15 percent.
• 33 Percent – We have helped reduce our clients average number of accounts receivable (AR) days by 33 percent.
• 85 Percent – We have succeeded in having 85 percent of our clients claim denials overturned.
• 88 Percent – Our clients have achieved an average clean claims rate of 88 percent with our medical billing platform.
• 98 Percent – We have helped our clients collect more than 98 percent of their claims in 90 days or less.

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More About Our Medical Billing Services for Labs

Along with our medical billing platform, benchmarking, auditing, and managed billing services, we offer a comprehensive suite of additional medical billing services to labs nationwide. Depending on your labs specific needs, we can help improve your labs billing efficiency and cash flow through one or more of the following:

Pre-Bill Services

We offer a variety of pre-bill services focused on helping our clients start billing new payors quickly and improving our clients billing efficiency. This includes assisting with credentialing, contracting, and eligibility verification, as well as providing billing compliance program assessments and improvement recommendations.

Billing and Coding

Accurate and compliant coding is at the heart of any successful medical billing program. Whether through working with our clients in-house billing teams or our managed billing solutions, we help labs put the policies, procedures, and systems in place that they need to bill correctly and on time. We provide comprehensive coding compliance solutions as well, and our medical billing platform includes automation capabilities designed specifically to facilitate timely billing and coding compliance.

Posting and AR Management

Our medical billing platform allows for end-to-end tracking of our clients reimbursements. This means that our clients know when (and if) payments post, and it means that they know how long their accounts receivable have been outstanding in real time. This allows for more effective AR management, which translates to more timely payments, less administrative hassles, and improved cash flow.

Collections

Even with effective claim tracking, some payors simply wont pay when they are supposed to. This presents obvious problems for lab owners and executives; but, fortunately, these are problems that labs can manage effectively. Through our posting and AR management solutions, we are able to identify when our clients are facing collection risks due to delays and denials; and, through our medical billing expertise, we are able to help our clients resolve these risks and avoid denials in the substantial majority of cases.

Medical Billing Consulting

As a lab owner or executive, you need to have a firm grasp of your facilitys billing compliance obligations and billing operations. You need to know that your labs billing program is working as it should, and you need to know that your lab is not at risk due to coding errors or other mistakes.

Along with all of the other solutions we offer, we also offer medical billing consulting services. Our medical billing experts can walk you through everything you need to know, and we can help you make informed decisions on an ongoing basis. All of our consulting clients work directly with our senior former federal agents, and we can custom-tailor a consulting plan to your specific risks, concerns, and needs.
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Get Started with a Complimentary Consultation

Would you like to know more about what your lab could (and should) be doing to manage its medical billing more effectively? If so, we invite you to get in touch. To schedule a complimentary consultation with a senior medical billing consultant at Fortis, please call 866-808-4160 or let us know how we can help online today.