Orchard Software Announces New Billing Functionality to Improve Reimbursements

PR Newswire
Tuesday, April 23, 2024 at 2:45pm UTC

Orchard Software Announces New Billing Functionality to Improve Reimbursements

PR Newswire

CARMEL, Ind., April 23, 2024 /PRNewswire/ -- Today, Orchard Software announced the release of its expanded billing functionality to include insurance verification automation. With this addition, Orchard's enterprise laboratory information system (LIS) solutions can decrease denial rates that may delay reimbursements, reduce revenue cycle time, reduce time to patient treatment, and reduce the administrative burden on lab resources that perform verification manually. Automated insurance verification is an important add because 43.8% of claim denials are due to inaccurate, obsolete, or missing patient demographic and insurance information.

Orchard's newly enabled insurance verification can decrease denial rates that may delay reimbursements.

"Healthcare organizations and their laboratories can benefit from our updated billing support by integration with insurance verification vendors, eliminating that manual process and allowing automated responses from insurance verification vendors to update the patient record," said Billie Whitehurst, CEO of Orchard Software. "Orchard continues to listen to its customers and add innovative features and products that support the lab's overarching mission to support patient care improvements."

Integrating this feature at the pre-analytical stage ensures insurance and benefits eligibility are confirmed before any tests are conducted. This approach is significantly more efficient than addressing it during the Revenue Cycle Management (RCM) phase after resources and finances have already been expended on testing. This preemptive verification process not only streamlines operations but also enhances overall financial management and patient satisfaction. Orchard's newly enabled insurance verification uses a standardized application programming interface (API) to integrate with insurance verification vendors. This added support will reduce billing discrepancies and allow laboratories to seamlessly perform insurance verification prior to claim submission—reducing rejected claims and improving billing efficiency.

About Orchard Software Corporation
Orchard Software Corporation is a leader in the laboratory information system industry and offers a variety of solutions. Orchard serves more than 2,000 laboratories across the country, helping them improve efficiency, reduce errors, and enhance integration. Orchard's cloud-based solutions are installed in physician groups and clinics, hospitals, independent reference labs, student health centers, veterinary labs, public health organizations, universities, and retail facilities. For more information regarding Orchard Software Corporation, visit www.orchardsoft.com.

Media Contact:
Steve Hurwitz, Vice President of Marketing
(800) 856-1948 | shurwitz@orchardsoft.com

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SOURCE Orchard Software Corporation