Sonora Quest Laboratories Signs Agreement With XiFin Inc. Paving the Way For Next Generation Business Platform

XiFin’, Inc., announced its selection today by Sonora Quest Laboratories as its revenue cycle management solution. Six of the ten largest labs in the US are now XiFin clients.

Sonora Quest Laboratories, a leader in the adoption of new technologies and business processes, recognizes the benefits from next generation, web-based systems and services like XiFin.

XiFin is the only revenue cycle management solution available to diagnostic testing and radiological services providers that leverages the broad capabilities of Software as a Service (SaaS) and Web Services to solve the complex problems of healthcare billing and accounts receivable management. Web Services drives Service Oriented Architecture (SOA) throughout the network enabling advanced business processes. Indeed, XiFin extends the life and capabilities of interfaced legacy enterprise systems.

While SaaS has rapidly gained acceptance in many sectors of Corporate America, healthcare providers have been slow to abandon traditional software. Sonora Quest Laboratories’ decision strengthens its leadership position and creates competitive advantages by embracing a proven and innovative business platform.

“Given the complexity of healthcare billing, especially in the lab industry, SaaS will help us leverage external expertise without replicating resources in house,” notes David Lutich, CFO of Sonora Quest Laboratories. “By utilizing the rules-based engines inherent in the XiFin software, we will see efficiencies in our process, improvements in our reimbursement and revenue cycle, plus enhancements in our reporting capabilities. With these improvements, we expect to see an immediate return on our SaaS expenditures.”

“XiFin was designed to meet the needs of the largest labs with regards to volume and complexity,” said Lâle White, Executive Chairman of XiFin. “Sonora Quest’s deployment of Web 2.0 systems and services will shake up the competition by setting new standards for managing a major clinical lab.”

About Sonora Quest Laboratories
Sonora Quest Laboratories, a subsidiary of Laboratory Sciences of Arizona, is an integrated laboratory system servicing over 6,000 clients throughout Arizona including hospitals, physicians, managed care organizations and employers. They are the market share leader in clinical laboratory testing in Arizona, performing over 60,000 diagnostic tests per day. Their comprehensive on-site test menu includes routine testing to more esoteric cytogenetic studies. Ninety-eight percent of all testing is performed at their primary testing facilities located in Tempe, Tucson, and Flagstaff.

Sonora Quest Laboratories continues to be recognized for their exemplary quality processes, most recently represented by the Showcase in Excellence Award for 2007. In 2005 they became the first and only health care establishment to ever receive the Arizona Governor’s Award for Quality. This recognition followed two Showcase in Excellence Awards in 2004, and the Arizona Pioneer Award for Quality in 2003. For more information about Sonora Quest Laboratories visit www.sonoraquest.com.

About XiFin

XiFin is an innovative software and services company dedicated to optimizing the economics of healthcare. The company’s cloud-based technology and business intelligence platform links healthcare stakeholders in the delivery and reimbursement of care, optimizing both business and patient outcomes and providing informed, streamlined diagnostic and business decision-making. To learn more, visit www.xifin.com, or follow XiFin on Twitter at www.twitter.com/#!/XiFin.