The best laboratory medical billing services at the most affordable rates.

1. Outsourcing of business processes has seen a lot of press over recent years. • It acts as a savior for some, while others believe it as an evil job-killing tactic. • While giving managers the ability to concentrate on core business aspects, it has awarded them with a lot more. • Though many areas and functions are outsourced, there are some frequently outsourced areas: • IT functions • Network and Telecommunications • Accounting • Security • Medical Billing • Let’s get into this a little more.

2. Bikham Healthcare is a leader in providing the most efficient laboratory billing services at affordable costs. • The team is comprised of industry’s best medical billing experts that take care of every step in laboratory medical billing process. • We employ dual quality check process to ensure that even the smallest error gets eliminated and denials are prevented. • With the 14+ years of unmatched expertise in medical billing we know the ins and outs of the laboratory billing industry. • Visit our website www.bikham.com to know more about our laboratory billing services.

3. Laboratories are meant to provide medical testing for patients and determine their health status. • A system of laboratory billing servicesis a specialized solution meant to improve the financial standing of labs.   • A new and exciting field of testing is a challenging area for insurance reimbursement. • After a lab service has been completed, the laboratory billing process starts with assigning of diagnosis and procedure codes.   • The codes are meant to assist a laboratory billing company and the insurance company in determining coverage and medical necessity of the services rendered.

4. International Statistical Classification of Diseases and Related Health Problems, usually called as International Classification of Diseases (ICD) is used in laboratory medical billing. • Another terminology for codes known as Current Procedural Terminology (CPT) codes is also used by a laboratory billing expert. • ICD is designed as a health care classification system, providing a system of diagnosis codes. • It classifies numerous diseases and includes a classification of a wide variety of signs, symptoms, abnormal findings, complaints, social circumstances, and external causes of injury or disease. • Understanding this coding system and the laboratory billing guidelines is important in terms of setting up efficient laboratory billing process.

5. The first step in a laboratory billing process normally starts with collecting information about the treatment procedures and the insurance company with which the patient is aligned. • A billing team then prepares a claim form mentioning the patient details and the treatment details along with the diagnosis specific codes and charges. • The claims are then submitted to the insurance companies via secure portals of clearing houses which verifies the information and if it founds any error or mismatch with the database, rejects the claim back to its source. • These errors are then rectified and claims are resubmitted via post, electronic means (laboratory billing software) or via fax.

6. Insurance companies normally take around 30 days to process the claims after which they make payments for the services rendered. • Payments are obtained via EFT transfer or cheque, which are received at the provider’s end or the account details provided by the provider at the time of credentialing process. • An AR team follows up on the claims which are denied from insurance company’s end and makes sure the payments are received by proper rectification of any errors.

7. The cost factor has always remained dominant in making business related decisions, especially where some sort of investment is involved. • A majority of business owners perceive outsourcing as an expensive practice when actually it costs much less than the in-house operations. • You do not have to invest on the recruitment process, hiring and training them and setting up any kind of expenditure to execute business operations. • Access to a skilled knowledge base is available at no extra cost. Otherwise, hiring an expert may cost you heaps. • You do not have to go through the hassle of managing their payroll as there is no in-house employee involved. Therefore, in one or other way, you save on money.

8. In order to execute this complex laboratory billing process, a team of well trained professionals is required.   • Proper identification of services, coding them, getting the claims processed hassle free and advocating them effectively is important. • Laboratory billing services include pathology laboratory medical billing, toxicology billing services and clinical laboratory billing services as well. • Taking care of all these things at a same time becomes difficult to handle with the increased workload of core and non-core aspects of this facility. • Moreover, the range of benefits that this effective business strategy offers, attracts more and more laboratory practice owners to go for it.

9. Choosing the right outsourcing laboratory billing company is as important as the operations you are about to outsource. • Any hastily made decision or wrong choice may result in you paying more than you actually earn. • Selecting right laboratory medical billing companies requires patience and something where you need to be extra careful. • There are some companies in the market that overhype their reputation and make fake promises to deliver profitable practices when what actually they deliver is totally something else. • To make this decision making process easier you can consider reviewing their past performances, asking for testimonials from their clients and verifying their history.

10. Reduced Costs and Increased Savings: When outsourcing, the costs of hiring, training, managing payroll and investing in the infrastructure get eliminated automatically. • Increased Knowledge Base: When you partner with a laboratory billing company you get access to an increased knowledge base and skilled professionals. • 100% HIPPA Compliance: An outsourced laboratory billing company leaves no stone unturned to secure and maintain the confidentiality of the sensitive patient health information. • Reduced Workload and Improved Business Performance: With reduced workload your in-house staff can work more freely leading to increased productivity and improved business performance. • Timely Reimbursements: With the careful charges and demographics entry, and error-free submission of health claims, the reimbursements process is streamlined and becomes quicker.

11. General Queries: info@bikham.com Health Care: healthcare@bikham.com US Office 99 Wall Street #158, New York NY 10005 Finance & Accounting :  +1 800-935-0865