Revenue Analytics & Trends

Reinvent the way your lab manages revenue

Running a lab is challenging enough without getting bogged down by complex data analytics. In today’s increasingly complex reimbursement and regulatory landscape, billing systems generate vast amounts of data.

At Labsquire, we handle the heavy lifting of analytics, allowing you to focus on leveraging data to make informed decisions for your daily operations. As labs face high-volume, low-dollar testing, high staff turnover, and evolving COVID-19 guidelines, efficient data analytics are more crucial than ever for seamless operations. Labsquire’s revenue analytics cut through the noise, delivering critical business insights that empower you to make informed decisions and monitor performance effectively.

Reinvent the way your lab manages revenue

What Do We Offer?

Your lab’s core business is analytics — providing high-quality test results and reports. Your billing company should share the same dedication to quality, delivering precise revenue information that’s tailored to your laboratory’s needs. Labsquire focuses on key lab metrics, not just general revenue data, ensuring you get the most relevant insights for your business.

Benchmark Assessments

Actual vs. Theoretical Collections

Collections Forecasting

Collection Opportunity and Threat Analysis

Client Profitability Analysis

Payer and PSC Profitability

Enhanced Claim Flow and Status Reports

Sales Performance Analytics

Intuitive Data Accessibility

Labsquire Health Dashboards

In the dynamic healthcare environment, it’s vital to understand who is paying you, how much, and where revenue is slipping through the cracks. Developed by industry experts in collaboration with outside advisors, Labsquire Dashboards provide lab management with a robust framework and key indicators for evaluating and improving performance.

Our Date of Service-based reporting allows lab directors and management to quickly identify lucrative financial opportunities.

Each dashboard highlights different areas where your lab can improve billing outcomes or increase collections.

From client and payer performance to sales and patient payment analytics, these dashboards provide a starting point for deeper analysis.

Break down and trend data by Financial Class, Payer, CPT Code, Specialty, Client, and more to fully understand the levers that need adjusting.

Financial Health Assessments

Our comprehensive financial health assessments include

Review of in-house compliance programs for lab procedures.

Detailed analysis of billing and collection history to pinpoint performance improvement opportunities.

Operational reviews to assess the efficiency of billing functions and systems.

Fee schedule and provider arrangement reviews to address denied or underpaid claims.

Streamlining internal processes, from patient registration to information collection efforts.

Automated Financial Reporting

Labsquire offers automated financial reporting that simplifies processes and delivers actionable insights directly to your team. No more time-consuming database updates or model adjustments—our system pulls data automatically for accurate, timely financial reports.

Automation brings additional benefits:

Automation ensures the process stays on track, reducing delays in report approvals.
Minimize errors with automated data management.
Automation speeds up every step, from data entry to report generation.
Organized, real-time data allows for easy review of older reports to monitor discrepancies.
Gain a clear, real-time view of your financials, recognizing patterns and trends to make better-informed decisions.