Laboratory Expertise

XIFIN has in-depth knowledge and experience in the laboratory market. The proof is in the numbers: our clients see significant improvements in profitability and collect on average 8 percent additional cash in the first 12 months; that translates to a cumulative realized gain of $3 billion in net cash collection, adjusted for growth.

Laboratory Expertise

XIFIN processes more than 60 million claims per year across a wide variety of healthcare segments including clinical, hospital outreach, anatomic pathology, molecular diagnostics, toxicology and more.

The Laboratory industry has had a rocky ride in recent years, and there is no evidence it will let up soon; reimbursement faces ongoing compression from multiple fronts, changing healthcare models threaten to undermine Laboratory’s role in the delivery of optimized healthcare in an increasingly patient-centric world; and information sharing needs are fueling an explosion of healthcare IT demands. Healthcare is predicted to change more in this decade than it has in the whole preceding 50 years. By some estimates, 35% of current healthcare organizations will cease to exist within the next five years and another 40% will find themselves in a precarious position. Only 25% are projected to thrive over the next five years.

So how does a laboratory ensure it’s part of the successful minority rather than becoming a healthcare casualty? The key is understanding the critical role Laboratory has to play in healthcare delivery, and leveraging its unique information assets to earn a "seat at the table" as healthcare continues to be transformed.

From the beginning, XIFIN saw that laboratories need a platform to enable health economics optimization — not just a smarter billing system, but a technological and financial solution that lets laboratories gain the visibility and the tools they need to take control of their businesses

  • Focus on Your Business, Not Technology – Because XIFIN solutions are cloud-based, laboratories are no longer required to maintain the expensive IT hardware and software infrastructure necessary to run a secure, enterprise-class system. And because XIFIN is well-grounded in Laboratory, our solutions are built to exacting healthcare and financial security and privacy standards.
  • Optimize Your Business – XIFIN’s extensive managed services shoulder the burden of keeping you up to date with everything from regulatory changes, to modifications to CPT codes and fluctuations in claim adjudication methods. Our “finger on the pulse” model allows XIFIN to draws on our breadth of in-house expertise and depth of research to understand the latest policies and incorporate them into our solutions, so that you can focus on optimizing your business.
  • Business Intelligence – You cannot manage what you cannot measure. Healthcare data, particularly Laboratory diagnostic and billing data, is especially complex and often difficult to interpret. We have applied our expertise in healthcare financial management to design a business intelligence data model to handle the volume and complexity of this information and that yields meaningful, useful results. Taking advantage of this robust information is critical to laboratories’ success, as it is essential to understanding and improving clinical outcomes. It is also a critical component in demonstrating value in coordinated care and value-based pricing models.

XIFIN is a proven partner in enabling laboratories to gain a competitive edge with an advanced technological foundation that not only better manages accounts receivable, but also enables an expanded Laboratory role in the emerging healthcare paradigm.