A laboratory Information system is software which stores patient clinical testing data and records and manages them for clinics and laboratories. LIS tracks the existing orders, communicates with the lab instruments and stores the results in a database. Using LIS it is easy to track patient records and search the relevant results.
A typical LIS system can be used to manage the operations of health institutes such as clinics and hospitals of public and private sector and their associated laboratories. It helps to maintain the patient treatment status and reporting data regarding their clinical laboratory data.
Common LIS Functions
- Patient data management
- Data tracking
- Order entry
- Test reporting
- Standard ordering and test specimen tracking
- Test ordering
- Third-party interfacing
- Quality assurance
- Workflow management
Billing and CRM modules in LIS are helpful in managing and streamlining accounts and patient related data. An integrated billing module adds to the cost effectiveness of a LIS system, easy in implementation and can be molded as per the lab needs. A dedicated billing system may be an overhead especially in the case when an integrated billing LIS is conveniently available.
Advantages of an integrated laboratory billing LIS system
Integrated laboratory billing LIS systems allow the financial handling and documentation of transactions within the available system. This makes it possible for storage and accessibility of more lab data in searchable format. Billing module may offer:
- Revenue management
- Billing of materials
- Quoting pricing
- Profit analysis
- Expense reports
- Payment processing
- Sales and client management
- Workload tracking of billing hours
Rules based billing systems enable the labs to process claims in comparatively less time and staff efforts. They seek to increase their profitability and getting paid for the provided services with minimum staff workload. Labs are constantly working to improve and streamline medical billing processes, an integrated billing LIS comes with many advantages for these labs.
- Higher profits
Integrated billing system can be helpful in saving money in a variety of ways. It uses less paper and saves the time used to monitor the relevant issues. The reduction of administrative related work can help in reducing the staff requirement and enabling the labs to reserve more finances for patient welfare.
Another advantage is the uniformity of the billing process in case there are several departments working independently. An integrated billing system makes it possible to take benefit of every opportunity possible making sure that every service and work is fully billed in the system.
- Reduced errors
Manual billing entries and multiple people handling every billing instance, there is a huge chance of billing errors and often end up in financial deficits. Keeping in view the fact that every staff member is usually engaged in several different tasks and responsibilities at a time, medical emergency situations can add to the instances of erroneous billing inputs at multiple occasions. An integrated billing system can help in overcoming this situation and improve the billing system.
- Better documentation
An integrated billing system helps in better level of documentation especially in cases where there are multiple levels of administrative, managerial and departmental approvals are involved such as employee claims approvals and reimbursements and other such financial approvals.
- Improved reporting
An integrated billing system LIS makes it possible to have access to detailed information and opening new avenues of internal reporting by having multiple options of differential data reporting. This way management can overlook to differentiate between performance of different departments and their staff and analyze the financial contribution of each, thus identifying the profitable areas and those showing loss.
- Increased efficiency
Manual data entry is a time consuming, difficult and error prone task, an integrated system makes it possible to reduce this entry time and errors by entry at a single instance and then distributing it among other relevant channels without any need of repetition.