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Blog Posts by Tag: Revenue Cycle Management

2020 is the Fourth Consecutive Year XIFIN is Recognized by Black Book Research for Solution Excellence

This year has been unlike any other. Diagnostic providers have faced many challenges managing a rollercoaster of testing volume – with its associated claims and revenue implications – driven by COVID-19. XIFIN and its innovative laboratory solutions and services have played an important role in supporting these providers as they handle high testing volume and reimbursement challenges during the...

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Practical Approaches to Diagnostic RCM Digital Transformation

A lot has been written over the past several years about digital transformation. While there is agreement that digital transformation is a valuable investment, often it isn't easy to know where to start. The COVID-19 pandemic has so increased volume for many diagnostic laboratories that digital transformation is no longer an option. It is mandated to keep up with the pre-pandemic levels of...

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Consider Closing Out the Year Strong With an Accounts Receivable (AR) Clean-up

Enjoy the following content from our partner, FrontRunnerHC. If you’re like most organizations, 2020 has impacted your patient volume and cash collection, so capturing every dollar of the revenue you’re entitled to is critical. Recently, I wrote an article featured in Beckers Hospital Review about three key reasons claims are piling up in your Accounts Receivable (AR) ledger. (To check out the...

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XIFIN Client and Patient Portals Improve Retention and Accelerate Reimbursements

Typically, if a patient has a question about a bill they receive for laboratory testing, they must call the laboratory to get those questions answered. They also must call the laboratory to request a payment plan, if they cannot afford to pay their entire balance at once. In some cases, patients even need to call the laboratory to pay a balance by credit card.For larger laboratories, this means...

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The Cost of Preserving the Status Quo – It’s Not an All or Nothing Decision Anymore

Whether you’re a laboratory, pathology practice, molecular diagnostic provider, remote patient monitoring organization, or one of the nation’s largest hospitals offering ancillary services, factors causing revenue compression are threatening your bottom line. They include: Testing volume and reimbursement related to COVID-19. With volume initially dropping as much as 60% during the pandemic...

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Automation of Prior Authorizations and Appeals is Possible and Key to Reducing Costs

Many issues are challenging diagnostic providers’ ability to maximize payor reimbursements, such as the significant increase in required prior authorizations (PAs) and the high cost of appeals.These issues are even more difficult for laboratories and remote patient monitoring device companies using traditional billing systems that have few or no automation tools. Hospital outreach programs and...

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XIFIN RPM 12: Additional Appeals Automation Capabilities, Expanded Advanced Analytics and Patient Data Discovery, and More

Laboratory testing volume is at an all-time high. Molecular testing volume, for example, is currently at 275% of pre-COVID-19 levels. Diagnostic providers must transform their revenue cycle management (RCM) to adapt quickly to this changed world. This is not a challenge that can be overcome by throwing people at it. That is not a sustainable, scalable solution and during the COVID-19 pandemic is...

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How AI Can Optimize the Laboratory Revenue Payment Lifecycle

Enjoy the following content from our partner, Infinx. Maximizing revenue in the laboratory healthcare industry’s complex third-party payer system has always been a challenge. With increasingly elaborate payment models and escalating payer scrutiny for high-tech testing, it’s never been more critical to stay current with new technological advances in the revenue payment lifecycle.For our...

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