Laboratories serve as vital components of healthcare systems, enabling scientific research, experiments, and diagnostic tests that play a crucial role in identifying and understanding patients' conditions. At Acrev Solutions, we go beyond conventional billing services and offer comprehensive laboratory solutions to various modalities, including hematology, toxicology, pathology, molecular diagnostics, infectious diseases, genetic studies, and more. We recognize the immense value laboratories bring to the healthcare industry, contributing to the well-being of the community. With our dedicated support, laboratories receive the recognition and assistance they deserve to continue delivering essential services that enhance healthcare outcomes and benefit society as a whole.
Laboratories encounter notable obstacles in their billing and revenue management processes, which can lead to considerable revenue loss. These challenges encompass frequent medical necessity denials, bundling or inclusive denials, tests not covered by patients' insurance policies, and tests considered experimental or investigational. Moreover, underpayments are often adjusted as contractual adjustments, further exacerbating revenue loss. These complexities collectively contribute to significant revenue challenges for laboratories.
Acrev Solutions Empowers You to Achieve Financial Resilience by Engaging our Laboratory Continuum Experts.
To enhance revenue management and address these challenges, laboratories often turn to billing and revenue cycle management companies for expertise. At Acrev Solutions, we specialize in the laboratory domain, offering comprehensive laboratory solutions beyond standard revenue cycle services. Our specialized services include panel building for complex tests, panel reviews and consultations, pre-adjudication services for high-value tests, and compliant billing practices. With a remarkable clean claim ratio of greater than 99.5% on all our clients and a first pass claims resolution rate exceeding 95%, we ensure efficient claims processing and minimal revenue leakage. By leveraging our expertise, laboratories can navigate billing complexities, coding intricacies, and insurance requirements, leading to improved reimbursement rates and enhanced financial outcomes.
Partner with Acrev Solutions today and experience the difference of working with experts who understand the unique challenges and requirements of your specialty. Let us support your practice or facility with accurate coding, efficient billing processes, and revenue cycle management solutions tailored specifically to all physicians.