Shared Laboratory Services, L.C. (SLS) sees a better way to manage their billing

August 30, 2002

SLS, a JV laboratory, part owned by Quest Diagnostics, has adopted the XIFIN infrastructure outsourcing solution to reduce bad debt, DSO's, staffing costs and compliance liability.

San Diego, CA. XIFIN™ announces its expansion into the hospital laboratory market with the installation of its account receivable management system and services into Share Laboratory Services, L.C. of Chesapeake, VA, a joint venture commercial laboratory formed between American Medical Laboratories, Chantilly, VA (now part of Quest Diagnostics), Chesapeake General Hospital, Chesapeake, VA and Obici Hospital, Suffolk, VA. XIFIN provides the definitive solution for laboratory AR management through total workflow automation with embedded services that support all aspects of the billing process.

The realities of the difficulty of keeping up with the myriad of changes, let alone the complexities necessary for health care providers to get paid is clear: reimbursement departments are overwhelmed. The results: uncontrollable errors that cause most losses and expenses associated with billing. Comprehensive error management is the key: effectively prevent front-end errors AND efficiently manage backend denials. XIFIN addresses this through a hybrid outsourcing service, one that provides a sophisticated application combined with all required services and resources needed to successfully manage all connectivity, reference databases, payer edits, transaction services vendors, hardware & software, as well as compliance/regulatory logic.

"We're excited about this innovative approach to AR management," commented Steven Harris, Senior Vice President of SLS. "It's a welcome relief to know that when my billing staff logs on to XIFIN, they will tap into a "billing utility" that's highly automated, comprehensive and always up-to-date - everything is taken care of."

"Better billing management is not simply about software," insists Lâle White. "It's about infrastructure and infrastructure management. Today, most labs have had to create, manage and maintain enormously complex and costly systems, something most labs struggle to do. The web has made possible, for the first time, the delivery of a complete infrastructure solution. SLS's decision to move from a mainframe application to our web-based solution is further proof of our compelling proposition."

About Shared Laboratory Services, L.C. based in Chesapeake, VA, is a joint venture commercial laboratory formed in 1997 between Chesapeake General Hospital, Obici Hospital and American Medical Laboratories (now part of Quest Diagnostics). SLS is focused on providing high quality test results and superior service to its hospital partners and clients throughout Southeastern Virginia.

About XIFIN, Inc. based in San Diego, Calif., is focused on maximizing the return while minimizing the burden of managing clinical laboratory financial assets and resources through continuous innovation in services and technology. Their initial offering is a fully compliant, Web-based accounts receivable and financial management system and transaction services for clinical laboratories. The system is designed to address the three most significant challenges facing billing operations: errors, compliance, and costly systems and processes.