Do you have a handle on your laboratory billing? If not, you could be overpaying for services, billed for tests we did not order, and making other costly mistakes.
Fortunately, there are ten tips you can follow to avoid these pitfalls and ensure that you’re getting the most accurate bill possible. By taking the time to understand the billing process and implementing these tips, you can save yourself a lot of money!
Know your insurance coverage inside and out
Before you get any tests done, understand your insurance coverage. Find out what is covered and what your copay or deductible will be. This way, you can budget for the costs and avoid surprises.
Install laboratory task management software
This software can help you track what tests need to be ordered, when they’re due, and which laboratory tasks have been completed. This will ensure that you don’t miss any important steps in the laboratory billing process. When laboratory tasks are completed, the software automatically generates a bill I can send to your insurance company.
Keep track of all laboratory bills.
Make sure you keep track of all laboratory bills, both medical and dental. This way, you can catch any errors and overcharges quickly. If you see anything suspicious, don’t hesitate to call the laboratory and ask for an explanation.
Review your laboratory bills carefully.
When you receive your laboratory bill, take the time to review it carefully. Ensure all the tests we ordered are listed, and the prices are correct. If you see anything that doesn’t make sense, don’t hesitate to call the laboratory and ask for an explanation.
Compare laboratory prices
Before doing any tests, take the time to compare laboratory prices. You may be surprised to find a big difference in cost between different laboratories. By shopping around, you can ensure you’re getting the best deal possible.
Use a laboratory that is in-network.
If your insurance company has a list of preferred laboratories, make sure you use one of them. In-network laboratories have agreed to charge prices within the insurance company’s guidelines. This can save you a lot of money! So, if your insurance company has a list of preferred laboratories, make sure you use one.
Get laboratory quotes in writing.
Before you have any tests done, get quotes from the laboratory in writing. This way, you can be sure you’re being charged the agreed-upon price. If the laboratory tries to charge you more than the quoted price, don’t hesitate to call and ask for a refund. You may also want to file a complaint with your state’s attorney general’s office.
Use laboratory coupons
Many laboratories offer coupons that can save you money on your laboratory bills. These coupons can be found in magazines, online, or through the laboratory itself. Make sure you take advantage of these offers! So, if your laboratory offers coupons, make sure you use them.
Pay laboratory bills on time
If you have any due laboratory bills, make sure you pay them on time. Late payments can result in late fees, and if the laboratory sends your bill to collections, it will damage your credit score. So, if you have any due laboratory bills, make sure you pay them on time.
Negotiate with the laboratory
Don’t hesitate to negotiate with the laboratory if you cannot pay your laboratory bill in full. Many laboratories are willing to work out payment plans or give discounts for early payment. So, if you cannot pay your laboratory bill fully, don’t hesitate to negotiate with the laboratory.
Following these ten tips, you can avoid overpaying for laboratory services, being billed for tests we did not order, and other common billing errors. Laboratory billing can be complicated and confusing, but by taking the time to understand the process and implementing these tips, you can save yourself a lot of money!
Do you have any other tips for avoiding costly laboratory billing mistakes? Could you share them in the comments below?