Business Intelligence Reporting Measures Profitability and Growth

Whether you work for a commercial lab or a hospital based laboratory outreach program, many of the challenges you face today are also shared in common with your peers. One of the common challenges is to produce reporting that monitors key performance indicators in multiple areas.

Laboratory Outreach Analytic Reporting

Reporting tools to monitor growth and profitability

The ability to look at a laboratory's operation through many different views, with many levels of granularity is an important method of managing your outreach laboratory business.

  • Profitability by physician, physician office, physician specialty and nursing home
  • Revenue monitoring by market/sales area, courier route, and laboratory department
  • Monitoring of tests by ordering patterns, reimbursement and laboratory department
  • Reviews of individual ordering physician volume and payor mix breakdown used to determine if low/high margin tests and major payor groups are being routed to your lab

Financial Analytic Reporting

Reporting tools to monitor billing and collections effort

The ability to examine the efficiency of the billing and collection services provides operational transparency and accountability.

  • Financial summary by: charges, payments, contractuals, and adjustments
  • Aging by financial class and payor
  • True reimbursement tracking at the test level examines payments, underpayments, zero payments, and denials
  • When working with capitated and managed care contracts modeling of potential utilization is available to assist with contract negotiations
  • Tracking expected versus actual reimbursement by payor can help uncover potential payor errors that can improve your bottom line

Interested in Learning More? Discover how RCM can help you expand your business.
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