Expert Molecular Lab Billing Services for Your Practice’s Unique Needs
Pulse Medix has a team of professional experts who are dedicated to providing exceptional laboratory medical billing and coding services. Our laboratory billing expertise covers a wide range of areas, including:
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Biological Labs -
Anatomic Pathology -
Cancer Genomics -
Toxicology -
Pharmacogenomics -
Immunology
Request a free consultation today with our billing experts and discuss how our molecular medical billing services can help your practice grow.
Our Comprehensive Molecular Laboratory Billing Services
Pulse Medix has been delivering these services for a decade. We have helped independent practices boost their revenue by 30%.
Here are the molecular lab billing services we offer:
Laboratory Coding
The AMA reports that over half of laboratory claims are submitted with incorrect codes. This issue is even more pronounced in laboratories due to the rapid advancements in molecular testing, which outpace the creation of CPT/PLA codes. Using “unspecified” codes requires precise descriptions, “Z” codes, and proper documentation. Inconsistent coding can lead to undercharging, overcharging, and increased risk of post-payment audits. At Pulse Medix, we conduct a thorough practice evaluation for all our clients. Our certified coders and reimbursement specialists work together to get you the maximum collections from the potential insurance payers.
Payment Posting
Payments can be received either as hard copies or through electronic funds transfer (EFTs). The corresponding explanation of benefits (EOBs) are received in hard copy or as electronic remittance advices (ERAs), which we retrieve directly. Our clients have the option to continue receiving payments at their laboratory or to have PGM manage all payments at one of our facilities.
Once a payment is received, it is reviewed and line-item posted into our practice management system by one of our reimbursement specialists.
Patient Charge and Demographics Data Entry
Patient demographics and accession charges are collected daily. Data can be scanned, faxed, or couriered to any one of our locations. Once the data is received, a dedicated account representative will enter the information into our practice management system.
Claim Submissions
Once claims are reviewed and audited, they are sent to the appropriate payers for reimbursement. We can electronically submit claims to thousands of payers across the country. For payers unable to accept electronic claims, PGM will create and mail paper claims.
Claim Tracking
After payments are posted in our system, our software scans for unpaid or incorrect claims. If a problem is found, one of our reimbursement specialists is alerted for further investigation and follow-up.
Our incentive-based fee structure ensures that we work diligently to make sure nothing gets overlooked. Once an outstanding claim is identified as past due, PGM’s system alerts our account representative, who then reviews the history and follows up on the claim accordingly.
Denial Management and Follow-Up
Only 70% of the average medical practice’s insurance claims are ever paid by insurance providers. Even if a practice submits a perfectly clean claim to a payer, there is no guarantee that it will get paid accurately.
Our incentive-based fee structure ensures that we work diligently to make sure nothing gets overlooked. Once an outstanding claim is identified as past due, PGM’s system alerts our account representative, who then reviews the history and follows up on the claim accordingly.
Patient Balances
We collaborate directly with laboratories to create a customized patient billing profile and handle all patient billing tasks for them.
A standard patient billing profile includes a series of clear and simple statements. If a patient does not make a payment, additional letters are sent, and a call sequence is initiated. Patients with billing questions can call a toll-free number, where our billing specialists are available to assist.
Why Outsource Your Molecular Lab Billing to Pulse Medix
Time Savings
Outsource to Pulse Medix and free up your staff. They can focus on patients while Pulse Medix takes care of the billing.
Faster Payments
Outsource to Pulse Medix and free up your staff. They can focus on patients while Pulse Medix takes care of the billing.
HIPAA-Compliance
Keeping up with billing regulations is tough. Pulse Medix ensures your practices are compliant, avoiding penalties and hassle.
Lower Costs
Running an in-house molecular lab billing team is expensive. Outsourcing to Pulse Medix cuts down on those costs and provides expert independent laboratory billing solutions.
Schedule a Free Consultation Today!
Contact us today to discover how our efficient molecular laboratory billing services can benefit your practice. Let’s get started on optimizing your cash flow!