Ask Ann is a new revenue cycle management mailbag headed by Ann Lambrix, Vice President of RCM Consulting for Lighthouse Lab Services. Each month, Ann will be tackling the burning billing and reimbursement questions from our clinical laboratory and pathology clients. If you would like to submit a question for consideration, you may do so by emailing email@example.com.
What is your best guidance that you have given to clients?
Just Curious in Ohio
Dear Just Curious,
WOW, that is a pretty far-reaching question!
When I first read your question, my first thought was “partner with experts”. This quote in particular comes to mind:
“The chain is only as strong as its weakest link, for if that fails the chain fails and the object that it has been holding up falls to the ground.” – Thomas Reid, Philosopher
Too many times experts like Vachette and Lighthouse RCM are brought in when it’s already too late. The vendors the client engaged with were not experts in the field in which they were doing business. This ends up being a waste of time, money, or both.
Here are some questions to ask yourself:
- Do you have experts on your side that can help you navigate this everchanging and tremulous payor landscape?
- How do you measure those experts? Are they transparent with the data that is provided?
- Are they developing new reporting or tools to track and trend revenue or compliance impacts/concerns?
- Are the reporting and tools easy to understand and utilize?
- Do you ever audit their process or work product? If yes, are changes made as needed if issues/concerns are found?
- Do they stay on top of industry updates/changes?
- Do you trust the information they are sharing with you?
Just Curious, healthcare RCM stuff isn’t easy. Every year it gets more complicated. Submitting a claim and getting paid for the amount you expect isn’t a given. Don’t leave your revenue cycle and reimbursement to chance – partner with those that understand these challenges and can understand and communicate how they impact you.
Ann Lambrix, Vice President of RCM Consulting, Lighthouse Lab Services and Vachette
If you’re seeking a new pathology or lab RCM partner to improve your denial manage, collections and overall billing processes, don’t hesitate to contact our team for a free consultation.