Memorial Healthtech Laboratories "Goes-Live" with XIFIN's AR Management Systems and Services

SAN DIEGO--(BUSINESS WIRE)--May 1, 2003--

Memorial Health Services Abandons Traditional Billing Software To Deploy XIFIN's New Hybrid Outsourcing Model for Laboratory Billing

XIFIN™ today announced the initial go-live by Memorial Health Services of its comprehensive infrastructure management system and services for outpatient laboratory billing operations.

XIFIN will deliver its complete AR management system and services to Long Beach Memorial's outreach laboratories services.

Like other health care systems, Long Beach Memorial's Health Services has been pursuing strategic IT outsourcing to better manage mission-critical information management budgets and resources. XIFIN's approach goes beyond typical IT outsourcing in that it focuses on managing and delivering those aspects of the process that are too costly and problematic for in-house resources to adequately manage: process infrastructure -- a key source of process errors and failures. Embedded within XIFIN's application are not only the IT infrastructure, e.g. software and hardware, but also all essential services and resources necessary to support billing which includes creation and management of all connectivity to users, clients, transaction services providers, systems and resources, reference data, as well as process logic to manage regulatory standards and guidelines. The application's rules-driven workflow management minimizes errors and denials while speeding the overall process.

"Memorial Healthtech Laboratories is further validation of our approach to AR management," noted Lale White, CEO of XIFIN. "Laboratory billing needs more than what traditional billing software can deliver. Integrated, expert services have proven to make a significant impact on a lab's bottom-line."

Memorial Healthtech Laboratories (a division of Long Beach Memorial Medical Center) is a hospital-based outreach laboratory service. Healthtech Laboratories is one of the largest outreach laboratories in California servicing clients in the greater Long Beach, LA and Orange County area.

About XIFIN Inc.: Founded in 1997 by senior laboratory executives, XIFIN(TM) delivers a highly automated application with integrated infrastructure services to support laboratory AR and financial management operations. XIFIN improves financial management, while targeting process errors that lead to bad debt, rework and compliance liabilities. Closed-loop, rules-driven workflow automation addresses billing complexity. XIFIN Services manage, deliver and maintain the entire infrastructure supporting AR including: connectivity, reference databases, payer requirements, transaction services vendors, hardware & software, as well as compliance/regulatory workflow logic.