More than simply processing claims, XIFIN has demonstrated that by focusing on process and integration, its revenue cycle management can deliver to clinical laboratories superior results at lower costs; XIFIN customers average an 8% improvement in cash recovery.
Clinical Laboratories
More than simply processing claims, XIFIN has demonstrated that by focusing on process and integration, its revenue cycle management can deliver to clinical laboratories superior results at lower costs; XIFIN customers average an 8% improvement in cash recovery.
Given the unmatched flexibility and accuracy of the XIFIN platform, it's little wonder why seven of the ten largest clinical laboratories in the United States rely upon XIFIN to simplify and manage their billing processes.
XIFIN has a deep understanding of the Clinical Laboratory market; in fact, XIFIN’s founders are all former executives from some of the largest and most successful clinical laboratories in the US. Our experience has armed us with intimate knowledge of both reimbursement issues and the failures of traditional billing software and services to adequately address the challenges laboratories face.
- We Deliver a Service, Not Software – XIFIN’s revolutionary approach to process optimization takes a holistic view of laboratory billing, including workflow design and automation, deep integration with third party technologies, and expert services and consulting. By fusing these elements within best practices methodologies, the XIFIN billing system doesn’t just improve upon an already broken process, it provides an entirely new framework for your laboratory's revenue cycle management.
- We Focus on Technology, so You Can Focus on Your Business – Because the XIFIN billing system was designed as a web-based application, laboratories are no longer required to maintain the expensive IT hardware and software infrastructure necessary to run a secure, enterprise-class laboratory billing system. XIFIN’s dedicated staff work together on your behalf, ensuring that your billing system is automatically kept up to date with the latest standards and compliance changes in the industry.
- GAAP Compliant Financials – Timely and accurate financial data is not only required for compliant billing — it is essential to growing and optimizing your business operations. Going beyond traditional laboratory billing systems, XIFIN includes a complete financial accounting package that provides laboratory management with a detailed picture of both revenue and expenses, including precise, GAAP compliant, financial data for the general ledger.
- Detailed Analysis of Clinical Laboratory Performance – You cannot manage what you cannot measure, and for this reason XIFIN offers access to a robust suite of detailed financial, performance, and operational reports, which serve to empower laboratory management with the information necessary to improve decision-making, enhance contracting and account management, and identify business areas that could most benefit from process optimization.
Designed around industry best practices, and used to process more than 150 million claims for most of the nation’s largest laboratories, XIFIN has proven to be an important partner in enabling laboratories to automate their billing systems, better manage medical claims filing, and reduce liability risks associated with payor and regulatory compliance.
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