Maximize Your Lab’s Revenue with Actionable Insights.
Maintain focus on the core business of running a lab rather than getting distracted with managing your internal and external resources dedicated to revenue maximization.
Is Your Lab Facing These Revenue Challenges
Laboratory Revenue Navigator’s (LRN) Reporting Service delivers data-driven insights to help labs optimize their Revenue Cycle Management (RCM). Our service provides clear, real-time reporting tailored specifically for laboratories to identify bottlenecks.
- Rising claim denials and delayed reimbursements.
- Difficulty tracking financial performance.
- Unclear revenue trends and key metrics.
- Wasting time on manual or incomplete reporting.
- Struggling to identify where revenue is lost.
LRN Offers Comprehensive Solutions
Laboratories trust LRN’s Reporting Service because it delivers lab-specific expertise, actionable insights, and user-friendly charts to optimize revenue cycle management. With proven results, dedicated support, and a focus on improving cash flow, LRN helps labs identify and resolve revenue challenges efficiently.
- Identify Claim Denials
- Monitor Revenue Trends
- Optimize Reimbursement
- Automate Reporting
Why Choose LRN?
With proven results, unmatched industry expertise, and a dedicated support team, LRN empowers labs to improve financial performance and streamline operations.
Lab Billing Reporting Made Simple
Your can’t measure what you don’t track. Explore some of our custom reports below:
LIMS Highlights report
This report shows the status of insurance claims from your Laboratory Information Management System (LIMS), highlighting the following key points:
Billed vs. Not Billed Claims
Billed vs. Not Billed Claims, shows how many insurance claims have been successfully billed versus those still pending.
Why Are Claims Not Billed
This explains the reasons behind the unbilled claims broken down into phases which inlcude: Ready to Bill, Validated but Delayed, Self-Pay or Missing Info. This breakdown helps identify where the bottlenecks are in the billing process.
Key Delays
Highlights the main issues causing billing delays. These delays slow down revenue collection and indicate areas needing improvement in the billing workflow.
Risks Identified
Outlines the levels of concern (High Risk, Medium Risk, Low Risk) for unbilled claims. These risks highlight where immediate attention is needed to resolve delays and prevent further financial impact.
Next Steps
Provides actionable recommendations to address the issues. These steps aim to streamline the billing process, reduce delays, and improve cash flow.
Production report
This report highlights delays, billing inefficiencies, and manual errors affecting revenue. Addressing these issues helps improve cash flow and overall billing performance.
Production Overview
This highlights the total number of claims billed for specific months and insurances. It also breaks down the claims by panels (types of tests, e.g., RFP, TOX).
Total Billed by Panel
This provides a percentage breakdown of billing across different test panels (e.g., RFP, TOX, UTI). It helps lab owners understand which test types are driving the most revenue and where to focus resources or marketing efforts.
Highest Billers
Identifies the top-performing test panels or services that generated the most revenue. Lab owners can identify their most profitable services and ensure they remain a focus for operational efficiency and growth.
Not Billed / No Insurance Assigned
This highlights the number of claims that remain unbilled or lack insurance details. These unbilled claims represent missed revenue opportunities. Lab owners must address these issues quickly to avoid financial loss.
Top 5 Insurances - Monthly Bill Rate
Trends in billing performance for the top 5 insurance companies over time (e.g., BCBS, AETNA, UHC). Lab owners can track performance with their major insurance partners and identify fluctuations that need follow-up (e.g., delays or errors).
Key Insights & Highlights
This section identifies risks, delays, and issues impacting claims processing and billing, such as:
- Delays in claim submission (e.g., >10 days).
- Duplicate claims caused by manual errors.
- Issues with accession numbers and coding mistakes.
It provides lab owners with actionable recommendations to resolve bottlenecks, improve efficiency, and recover revenue.
Coding report
This report analyzes the accuracy of coding combinations used for insurance claims, highlighting errors, missing units, and additional CPTs that impact reimbursements.
Coding Combination & Total Billed
Lists the coding combinations used to bill insurance claims. Displays the number of claims and their total billed amounts, broken down by insurance payers.
Coding Status
Flags coding combinations as “Accurate” or “Incorrect”. Incorrect codes are reviewed for specific issues like missing CPT units or the need for additional CPTs, or using the appropriate CPT for that correct payor i.e. correct coding based on payor policy.
Additional CPT/Units and Missing CPT/Units
Identifies claims that require additional CPT codes or have missing units. Lab owners can prioritize fixing these claims to maximize revenue.
Medicare Fee Schedule
Displays the Medicare-approved reimbursement rates for the coding combinations. Lab owners can compare their billed amounts to Medicare benchmarks to ensure compliance.
Panel Coding
Breaks down coding and billing issues for each test panel. Highlights specific errors, such as missing units, incorrect coding, or the need for additional CPTs.
Collection report
The Collection Report provides an overview of payments collected for claims based on the Date of Service (DOS). It highlights key details such as: Top Payors, Claims Paid and Total Amount Collected, & Aging Balances.
Panel & Top 3 Insurances
Weekly collections for key insurance payors, showing the number of claims and total payments.
Highest Payors by Panel (%)
A breakdown of collections by panel expressed as a percentage for each month. Highlights which panels contribute the most revenue. Provides a clear focus for prioritizing resources and identifying underperforming panels.
Top Payors Average Time Taken to Pay
Displays how long key insurance payors take to pay claims on average, month-by-month. Reveals slow-paying insurers that impact cash flow. Lab owners can follow up with these insurers to reduce payment delays.
Highest Payor Monthly Breakdown
A detailed view of monthly collections from Top Payors.
Panel vs AR Balance
Shows the aging balance of unpaid claims categorized by panel (e.g., CGX, RPP, UTI). Highlights unpaid claims, especially those 60+ or 120+ days old, which are at risk of being lost.
Denial report
The Denial Report highlights the most frequent claim denials and their financial impact. It provides insights into, Top Payors with high denial counts, root causes of denials, & Actions needed to resolve denials and recover revenue.
Top Payors & Denials
Identifies the insurance payors with the highest denial counts. Lab owners can see which insurers reject the most claims and target those payors for corrective action. Understanding this helps identify recurring issues with certain insurers.
Top Denials - Count
Lists the most common reasons for claim denials, such as:
- Missing/Invalid Information
- Duplicate Claims
- Non-Covered Charges
Medicare Denials
Medicare claims have strict guidelines, and frequent denials signal compliance issues. Addressing these can improve acceptance rates and avoid audit risks.
Key Observations & Highlights
This provides a clear roadmap to resolve denials and recover lost revenue. It highlights areas for process improvement, such as better documentation or claim validation.
Financial Impact Summary
Total denied claims and the associated financial loss. Identifies the highest impact payors and denial reasons that cost the lab the most.
Actions & Recommendations
This provides actionable steps to reduce future denials and improve billing accuracy. It also assigns responsibility and timelines for resolution.
"LRN’s reports have completely transformed the way we manage revenue. We now spot issues faster and recover lost revenue more effectively. LRN’s reporting tools helped us reduce denials, focus on problematic payors, and significantly increase our reimbursements. I can’t imagine running our lab without these insights!"
Frequently asked questions
LRN’s Reporting Service allows labs to monitor key metrics like claim denials, aging balances, payor performance, collected vs. outstanding revenue, and average time-to-pay. Our customizable dashboards give you a clear, real-time view of your lab’s financial health.
Our service identifies the root causes of denials—such as missing CPT codes, duplicate claims, or invalid information—and provides actionable recommendations to resolve them. With denial trends broken down by payors and CPTs, you can target recurring issues and improve reimbursement rates.
Yes! LRN’s tools are designed to integrate seamlessly with most Laboratory Information Management Systems (LIMS) and billing platforms, ensuring smooth data flow and accurate reporting without disrupting your current processes.
Most laboratories see measurable improvements—such as reduced denials, faster payments, and improved cash flow—within 2-3 months of implementing LRN’s Reporting Service.
LRN’s service is built specifically for laboratories, combining lab-specific expertise, and actionable insights. We focus on helping labs optimize revenue, reduce errors, and recover lost revenue, all with the support of a dedicated team that works closely with you.
Partner with us
Don’t hesitate to reach out
Our team is here to help, please contact us with any questions, or to get a quote today.