Revenue Cycle Management Automation: A Strategic Initiative with Fast Payback
San Diego, Calif. - May 1, 2012 - XIFIN, Inc., the company revolutionizing revenue cycle management for diagnostic service providers, today announced the release of a new white paper in its CEO's Guide series exploring how laboratories can leverage technology to reduce costs and increase collections to more than double profitability. The complimentary whitepaper, "A CEO's Guide to Doubling Profitability: Using Technology to Reduce Back-Office Costs," hosted by Robert Michel, Editor-In-Chief of The Dark Report and President of The Dark Intelligence Group, Inc., can be downloaded at http://www.darkdaily.com/white-papers/a-ceos-guide-to-doubling-profitability-using-technology-to-reduce-back-office-costs-42312#axzz1sskGMCoZ
Co-authored by XIFIN executives Lâle White, executive chairman and CEO, and David Lorber, Ph.D., director of business development, the white paper examines the fundamental levers that significantly impact a Lab's profitability, and how technology can be instrumental in reducing costs and increasing revenue.
The XIFIN white paper is a must-read for anyone wanting to understand the cost drivers behind back office costs and how to utilize technological advances to optimize operational and financial performance. Readers will gain insight into:
- Eight manageable technology-driven back office cost improvements that can double profitability, without fundamentally altering the Lab's operating structure or business
- How to leverage economies of scale to reduce operating costs
- Next generation revenue cycle management solutions
To accompany the new white paper, XIFIN is also sponsoring a CEO's Guide to Profitability videocast series that will delve in greater detail into individual issues discussed in the paper. Subscribe to be alerted when a new videocast is available, and learn how to bring profitability and cost measures to life.
XIFIN processes more than 100 million claims per year across a wide variety of healthcare segments including clinical, hospital outreach, anatomic pathology, molecular diagnostics, toxicology, radiology and more. Customers see a 50-100% improvement in profitability by using the XIFIN system, and have realized cumulative gains of $1 billion in net cash collection, adjusted for growth.