Clinical Laboratory

Enabling Clinical Laboratories to Thrive Amid Market Disruptions

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.

"The Dark Report concurs with a number of lab industry experts that [PAMA] Medicare fee cuts may be the single most disruptive event to hit the clinical laboratory industry in 40 years."

Clinical Laboratory Expertise

XIFIN has in-depth knowledge and experience in the clinical laboratory market that translates to clear performance improvements.The proof is in the numbers: our clinical laboratory clients bill for 70 million procedures annually, and our clients see significant improvements in profitability and collect on average 8 percent additional cash in the first 12 months; overall, XIFIN clients have netted a cumulative realized gain of over $3 billion in net cash collection, adjusted for growth.

XIFIN Solutions for Clinical Laboratory

XIFIN RPM

XIFIN RPM gives clinical laboratoriesthe ability to take control of their billing operations and financial performance, and operate with maximum efficiency in an environment of razor-thin margins.

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XIFIN LIS Anywhere

Clinical laboratories are under pressure to maximize operational efficiencies while achieving unprecedented visiblity and connectivity. XIFIN LIS Anywhere enables clinical laboratories to stay competitive in an increasingly complex environment.

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Built to Achieve Health Economics Optimization

With high volumes and compressed margins, clinical laboratories need a platform that enables health economics optimization — not just a smarter billing or laboratory information system, but a technological foundation that encompasses both clinical and financial aspects, and 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, clinical laboratories no longer need 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.

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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 draw 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.

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Business Intelligence

You cannot manage what you cannot measure. Healthcare data, particularly clinical 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 clinical laboratory information and that yields meaningful, useful results. Taking advantage of this robust information is critical to clinical 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.

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Clinical Laboratory Success Stories

A True Partner, Not Just a Vendor

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.

AMS recognized that the legacy billing system it was using was unable to keep up with the volume and frequency of changes required for effective and efficient billing and reimbursement-particularly those changes associated with Medicare. One of the first things that attracted AMS to XIFIN was the cloud-based business model that requires no hardware investment or maintenance. The second thing was the system's ability to always be current and seamlessly incorporate frequent changes to accommodate new codes, standards, and regulations.

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