San Diego, CA — October 19, 2011 — XIFIN Inc., the company revolutionizing revenue cycle management for diagnostic service providers, today announced the introduction of the XIFIN iNet platform to facilitate information exchange and extend XIFIN system capabilities to other systems and external applications.
XIFIN iNet employs a Platform as a Service (PaaS) model that offers significant workflow efficiencies by enabling diagnostic service providers to distribute and exchange billing information and revenue cycle management functionality with other systems, including lab and radiology information systems, computerized patient order entry, and electronic medical records, to streamline and speed the billing and collections process.
"Diagnostic service providers are subject to a growing number of economic pressures and technological changes that are threatening reimbursement and margins, and revenue cycle management systems are increasingly playing a critical role in their profitability and survival," said Lâle White, CEO of XIFIN. "Our cloud-based XIFIN iNet platform, combined with our proven RCM solution, is truly the next generation in revenue management that will ensure providers are maximizing profitability by capturing more revenue faster and with greater efficiency."
The XIFIN iNet platform leverages cloud computing’s powerful web services technology and data management capabilities to eliminate data barriers, allowing other software applications to access, share, search and analyze billing data to streamline the end-to-end billing process. XIFIN iNet actively communicates with other systems to facilitate clean orders through payor-specific edits, eligibility and medical necessity checking, and other types of validation to help reduce front end errors. Now, XIFIN users can easily deliver the ability to check for medical necessity; search for patients' outstanding balances while obtaining eligibility, co-insurance and deductible information in real time; and accept payment from the patient or a client, wherever and whenever the capability is needed.
The XIFIN system, and accompanying XIFIN iNet platform, scales to accommodate any size operation, while providing strategic decision support through data sharing and analytics. XIFIN's flexible and highly automated workflow and financial analytical information, coupled with best practices expertise, enables XIFIN clients to significantly improve financial performance while eliminating the majority of billing IT infrastructure and maintenance costs.
A newly published white paper, "A CEO's Guide to Next Generation Revenue Cycle Management: What Service Providers Need to Know to Survive the Changing Diagnostic Healthcare Environment," is available for complimentary download at the Dark Daily website.
For additional information about XIFIN's iNet platform, visit XIFIN's exhibit booth #302 at the G2 2011 Lab Institute, October 19-21 at the Crystal Gateway Marriott in Arlington, VA.