XIFIN®, Inc., today announced its selection by the North Shore-Long Island Jewish Health System's Core Laboratory to provide comprehensive infrastructure management system and services for their outpatient laboratory billing operations.
As part of its growth plan, the lab sought an AR management solution that not only could scale and adapt to their anticipated changes but also minimize their billing and IT resource requirements which burden traditional billing software. The offering consists of a rules-driven, expert system with a full complement of embedded transaction services managed, maintained and delivered by XIFIN. As a standard part of its offering, XIFIN takes responsibility for managing all aspects of the applications and infrastructure supporting the entire billing process: from order entry to error/denial processing and submission through payment.
"We are very pleased to have entered into this relationship with XIFIN," remarked Gordon Farley, Director of Finance, North Shore-LIJ Core Laboratory. "Beyond their impressive application and services, we see in XIFIN an expertise, capabilities, and focus on laboratory billing operations that we'll continually be able to draw upon as we increase our outreach services. During the first quarter of 2003 our outreach service revenue increased by over 40 percent compared to the same period in 2002. Having an AR solution that will keep pace with our growth will allow us to better serve our patients and physician clients."
"North Shore-LIJ is an excellent example of the trend of large health systems applying new approaches to better compete in the outpatient laboratory space," stated Lale White, CEO, XIFIN. "It's gratifying to know that, by helping to improve financial management and bottom-line performance, XIFIN can play an important role in strengthening North Shore-LIJ's competitive position."
About North Shore Long Island Jewish Health System Core Laboratory:
Beginning in 1998 the North Shore-LIJ Core Laboratory has provided centralized laboratory services for the hospitals in the North Shore-LIJ Network and its affiliated physicians. The Laboratory is a fully-automated, around-the-clock, full-service reference and testing facility, offering advanced testing services to hospitals, private physician practices and the bio-medical industry.