#USA #Dallas #Revenue Cycle Management #SYNERGEN Health #Lighthouse Lab Services

SYNERGEN Health Strengthens Laboratory Revenue Cycle Management Through Strategic Partnership

SYNERGEN Health, a prominent player in technology-enabled revenue cycle management (RCM), has recently announced a strategic partnership with Lighthouse Lab Services, recognized as the leading provider of consulting and management for medical laboratories. This collaboration marks a significant stride in enhancing the operational effectiveness of labs by leveraging AI-driven technology and expert services tailored specifically to laboratory needs.

Addressing the Challenges in Lab Financial Management

In today’s healthcare ecosystem, laboratories face mounting challenges, including payer complexity and increasing financial pressures, leading to a rise in claim denials. As Teri Gatchel-Schmidt, Vice President of Consulting and Business Development at SYNERGEN Health, puts it, “Laboratories face increasing payer complexity, rising denials, and financial pressures that generic billing tools can't solve.” The partnership seeks to tackle these issues head-on, offering lab-specific integrated solutions that are vital for improving collection processes and promoting financial sustainability.

The joint effort combines SYNERGEN’s technology-driven RCM platform with Lighthouse’s extensive knowledge in lab management. The integration promises to provide a suite of tailored services designed to enhance collection efficiency and minimize denial rates, thus allowing labs to prioritize their primary mission: delivering high-quality diagnostics.

Key Benefits of the Partnership

The Synergen and Lighthouse partnership brings numerous benefits to clients:

• - Tailored RCM Platform: Clients will have access to SYNERGEN's innovative RCM platform, specifically designed for laboratory operations. This includes optimized processes that take into account the unique challenges that labs face today.
• - Dedicated Support: SYNERGEN’s experienced RCM specialists will provide personalized support to clients, ensuring seamless implementation of systems tailored to their operational needs.
• - Streamlined Workflows: The collaboration aims at optimizing workflows, reducing rework, enhancing interactions with payers, and accelerating cash flow—ultimately bolstering the financial health of laboratory clients.
• - Advanced Analytics: Clients can leverage advanced analytics dashboards that deliver critical insights into payer behavior and test line profitability, thereby facilitating informed decision-making.

Commitment to Long-Term Sustainability

Both SYNERGEN Health and Lighthouse Lab Services are dedicated to the success of labs, reflecting their commitment to addressing financial challenges that can hinder laboratory operations. Ann Lambrix, Executive Director of RCM Consulting at Lighthouse Lab Services, emphasizes this commitment by stating, “With continued challenges that plague a lab's revenue cycle, Lighthouse strives to partner with best-in-class platforms that will support our client's success.”

This partnership will not only help individual labs streamline their operations but also contribute to the overall success of independent and hospital-based labs, ensuring they can thrive in an increasingly competitive landscape.

About the Companies

Founded in 2011, SYNERGEN Health has positioned itself as a leading provider of transformative revenue cycle solutions and services within the healthcare market. Utilizing advanced technologies, including AI, machine learning, and robotic process automation, SYNERGEN specializes in maximizing revenue potential for its clients across more than 45 states in the USA. Their goal is to innovate revenue cycle management processes while maintaining the highest compliance standards.

Similarly, Lighthouse Lab Services boasts a robust history since its inception in 2003. Initially a clinical laboratory staffing entity, it has evolved to include comprehensive laboratory consulting and management services, addressing a wide range of operational challenges faced by labs. With offices spanning locations including North Carolina and Ohio, Lighthouse is a strategic partner for lab entrepreneurs, physician groups, and hospitals alike, providing expert guidance and solutions that enhance operational efficiency.

For more information, visit SYNERGEN Health and Lighthouse Lab Services.