Given the unmatched flexibility and accuracy of the XIFIN platform, it's little wonder why XIFIN is currently being relied upon by 7 of the 10 largest clinical laboratories in the United States to simplify and manage their billing process.
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 admired clinical laboratories in the US. Because of this experience, we have an intimate knowledge of reimbursement issues, as well as the limitations of traditional billing software and services to adequately address the various challenges laboratories are struggling with.
- We Deliver A Service, Not Software – While traditional laboratory billing software has attempted to improve billing operations through incremental enhancements, there is a limit to its effectiveness, especially since it does not address changes to process and resource management. XIFIN’s revolutionary approach to process optimization is very different – taking a holistic view of laboratory billing, including workflow design and automation, deep integration with third party technologies, and expert services and consulting. By synthesizing these elements using industry best practices, 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, of close to 100 employees, 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 over the past 10 years for some of the nations’ largest laboratories, the XIFIN billing system has proven to be a critical component in enabling diagnostic service providers to automate their billing process, better manage medical claims filing, and reduce the costs associated with regulatory compliance.