PRINCETON, NJ (PRWEB) June 29, 2012
NovoBilling streamlines the AP lab’s fiscal workflow by electronically sending claims, posting payments, and managing invoices. As a comprehensive state-of-the-art AP billing, claims management, and accounts receivables software system, NovoBilling dramatically increases laboratory revenue as it eliminates (1) the need for double data entry between the AP LIS and billing system, (2) virtually all errors in charge capture, and (3) the added expense of a billing service or system. NovoBilling continues to maximize revenue as it facilitates a decrease in the turnaround time for claim payment, and an overall reduction in the claim denial rate by reviewing patient data prior to submission. For claims that have been partially paid or denied, NovoBilling tracks and manages the process of rebilling, recapturing additional lost revenue.
NovoBilling provides detailed management reports that help the AP lab identify and address claim processing and collection issues, while providing the clarity needed to continually enhance operational efficiency. This Billable Service Manager module provides timely and accurate reporting for payments invoiced and received, sorted by patient, case, or CPT code, and revenue breakdown sorted by physician or payer. While eliminating the time and expense of a ‘paper trail’, NovoBilling automatically posts Electronic Explanation of Benefits (EOBs) for accurate reporting and follow-up, and supports eligibility verification.
“We are pleased to offer an upgraded version of our popular NovoBilling module,” said Rick Callahan, VP of Sales and Marketing at NovoPath. “We know our partner laboratories look forward to spending more time providing diagnostic services, strengthening their competitive edge, and developing client relationships, while focusing less on processing, posting, and managing claims. NovoBilling helps them streamline their fiscal management workflow, while ensuring they capture the maximum possible revenue.”
About NovoPath, Inc.:
NovoPath, Inc. develops and markets software solutions for the Anatomic Pathology Laboratory market segment that includes local, regional, national, in-house laboratories as well as community and university teaching hospitals and medical centers. Since the release of its flagship product in 1999, NovoPath, Inc. has focused exclusively on Anatomic Pathology. NovoPath's mission is to provide unique and unparalleled solutions and services to all aspects of the Anatomic Pathology sector in a way that improves workflow, reduces the probability of human error, ensures results accuracy for greater patient safety, protects patient confidentiality, and above all, produces more precise and informative diagnostic outcomes. More information is available at http://www.NovoPath.com.