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Examining Common Denial Reasons for Drug Screenings

Examining Common Denial Reasons for Drug Screenings

by lighthouselab | Oct 11, 2024 | Denial Management, Payer Audits & Alerts, Revenue Cycle Management, Industry Insights

Presumptive drug testing screens for drug presence, while definitive testing identifies specific drugs and concentrations. Both aid in patient care and treatment decisions. In the world of healthcare, efficient revenue cycle management (RCM) is crucial for...
How to Properly Value a Medical Laboratory for Sale or Purchase

How to Properly Value a Medical Laboratory for Sale or Purchase

by Alex Mitchell | Oct 3, 2024 | Lab Operations & Management, Tips for New Lab Owners, Industry Insights, Lab Acquisitions and Transactions

When preparing to sell or buy a medical laboratory, it’s essential that you first conduct a thorough valuation in order to ensure the deal will be financially viable for your future plans. A variety of factors can influence the final price, ranging from revenue...
The Benefits of Lab Equipment Calibration Services

The Benefits of Lab Equipment Calibration Services

by Alex Mitchell | Sep 23, 2024 | Lab Operations & Management, Tips for New Lab Owners, Industry Insights

When your laboratory uses sophisticated equipment like liquid chromatography-mass spectrometry (LC-MS) systems, you rely on these tools to provide trustworthy results. However, regular use of this equipment can eventually cause changes to the tools that lead to...
Effectively Managing Timely Filing Denials

Effectively Managing Timely Filing Denials

by lighthouselab | Sep 22, 2024 | Industry Insights, Payer Audits & Alerts, Case Studies, Denial Management, Revenue Cycle Management

Issues Identified: During a client’s quarterly billing audit, Lighthouse RCM Solutions identified a claim that was denied for timely filing and adjusted off as uncollectible.   Background: Timely filing is the contracted timeframe in which a claim must be...
Things To Know About Lab Instrument Service Contracts

Things To Know About Lab Instrument Service Contracts

by lighthouselab | Sep 16, 2024 | Lab Operations & Management, Tips for New Lab Owners, Industry Insights, Clinical Laboratory

Laboratories and their employees need reliable equipment to do their jobs well. One way lab managers can ensure their operations run smoothly is by entering into a lab instrument service contract to receive routine preventative maintenance and other benefits. Here are...
What’s Standard for Medical Lab Billing Contracts?

What’s Standard for Medical Lab Billing Contracts?

by Alex Mitchell | Sep 2, 2024 | Lab Operations & Management, CMS Fee Schedules, Tips for New Lab Owners, Revenue Cycle Management, Industry Insights

Entering into an agreement for medical billing services is an important process for any clinical lab or pathology group that does not have this service provided by a hospital or other partner. But what metrics and capabilities should a medical group or lab look for...
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