4medica Perfect Order for Perfect Payment
“Imperfect data and a succession of data integrity missteps hurt a lab’s financial performance. Every stakeholder must focus on cleaning and validating data earlier in the process to avoid problems downstream.”
MARINA DEL REY, Calif. (PRWEB) October 08, 2019
At the 13th Annual Lab Quality Confab for laboratory managers, administrators and pathologists, 4medica® President Gregg Church will inform conference attendees how the 4medica Perfect Order for Perfect Payment™ is the first-to-market solution reinventing labs orders management─by starting with the right, clean patient data. The single platform interfaces to core lab systems to integrate front-end and back-end clinical and revenue cycle workflows and capabilities, facilitating dramatically improved laboratory process management and timely payment delivery.
Supporting this radically new technology approach to standardize and increase lab data, order and payment accuracy are two initiatives:
4medica’s customer Joseph Cugini, manager of Client Solutions at Health Network Laboratories, will present the breakout session, “How Health Network Laboratories Uses EMPI and New Digital Tools to Cut Time Required to Submit Claims, to Shorten Payer Settlement Times, and to Increase Collected Revenue” on Tuesday, October 15 from 3:00–3:50 p.m. ET.
Industry fact: Potentially bad data or missing information ends up in the laboratory information system before lab orders are processed. 4medica is committed to a nationwide strategy calling for minimum data standards to facilitate accurate patient matching. Advocating for action via its data standardization tools and data governance procedures to keep patients safe despite the lack of a national patient identifier, 4medica will introduce its Virtual Master Data Clean-Up Program. The program guarantees eliminating patient record duplication rates to 1 percent or less, precisely cleaning each individual’s longitudinal medical history and care encounters while preventing false duplicates from forming.
Commercial and hospital outreach laboratories face declining reimbursements and a need to increase the certainty of income for services provided. For sustainable growth, labs must focus on the quality and usability of data, increase efficiency in the orders management process and initiate payment discussions with patients upfront.
“When every order is full scrubbed for medical necessity, patient identity, insurance eligibility and pre-authorization when required, a laboratory reaps tremendous cost savings in accessioning and support services,” said Church. “Imperfect data and a succession of data integrity missteps hurt a lab’s financial performance. Every stakeholder must focus on cleaning and validating data earlier in the process to avoid problems downstream.”
At the Hyatt Regency in Atlanta, Georgia, 4medica exhibits October 15-16 its 4medica Perfect Order for Perfect Payment™ solution and its Big Data Management solutions: 4medica Big Data MPI™, 4medica Big Data Enrichment™ and 4medica Big Data CDR™. The breakout session is 3:00–3:50 p.m. ET on Tuesday, October 15.