Inconsistent coding, denied claims, and limited visibility into your billing cycle are among the greatest contributors to revenue leakage for labs and healthcare providers. Your organization is inundated with revenue data, but how can you resolve revenue leakage if you can’t identify the source of the problem?
Revenue leakage caused by data errors, claim denials, and underpayments is a critical concern for healthcare providers. Too often, leakage goes unnoticed until revenue is unrecoverable, and this unchecked revenue leakage inhibits your organization’s growth, stability, and long-term viability. However, by implementing the right technologies and processes, you can minimize — and even prevent — these costly losses.
Use this checklist to evaluate the efficiency of critical aspects of your revenue cycle. These questions cover four common areas that impact revenue leakage for medical labs and healthcare providers, allowing you to identify the processes that contribute to revenue leakage in your billing system.