Preventing Revenue Loss in Diagnostic Labs with LIMS System
Labs play a crucial role in healthcare as they offer precise and prompt diagnostic information to physicians and patients. However, labs often experience revenue leakage, resulting in substantial financial losses. Laboratory Information Management System (LIMS) is of great use at labs, to improve efficiency while achieving prompt results. It also handles the lab operations avoiding potential reasons for revenue leakage, helping them to boost revenue. In this blog, let us see the causes of revenue leakage at labs, and strategies for identifying and preventing the same, with the help of a laboratory management system. Sources of revenue leakage when a laboratory management system is not used Test Ordering and Billing Errors - Medical testing labs generally face revenue leakage due to errors in test ordering and billing, which can transpire at any stage of the process, ranging from the physician who orders the test to the billing department. A few places where this can happen are order