Case Studies

Boosting Lab Profitability at a Fraction of the Cost

Customer Profile

Mid-size molecular lab performing over 105,000 tests annually.

The Challenge

Most (57%) of the requisitions received by the lab have bad or missing data that prevents successful billing. The lab spends $900 thousands every year trying to resolve the data problems so it can get paid for the tests it performed. However, only 70% of those efforts succeed and approximately 30% of the requisitions with data issues end up being written off, amounting to over $2 million revenue loss yearly.

The Solution

PreciseMDX’s solution identifies, early in the process, data issues that could hinder billing, and then proactively solves them, either automatically or via triggering digital engagement journeys directly with patients and providers. As the PreciseMDX solution manages orders throughout the process, it continues to monitor data updates ongoingly and any update that affects billing, such as changes to patient insurance, is immediately pushed to the revenue cycle team. The solution’s Lab Intelligence™ smart dashboards allow the lab management to track business performance and identify opportunities to improve it.


  • Reduction of 69% in billing failures due to data issues.
  • $2 million boost in annual profitability (+17%), including:
    • $1.42 million additional annual revenue (+12%).
    • $617 thousand labor costs savings (-69%).
  • Getting paid quicker due to shorter revenue cycle processes.