Revenue Cycle Management
Introducing XIFIN RPM 9
The most advanced revenue cycle management platform is now even better.
Blog Post: Effective Revenue Cycle and Compliance Management for Maximizing Revenue & Valuation
Revenue cycle management (RCM) and its supporting business intelligence (BI) are critical to an organization's success, from a compliance as well as a revenue and valuation maximization perspective.
Blog Post: RPM 9 - Industry's Best-In-Class Secure, High Availability Environment
One of the ways we help diagnostic providers unleash their power to succeed is by providing a technology infrastructure that is secure and highly responsive.
Blog Post: RPM 9 - Outsource Service Model Creates Flexible Delivery Options and Insight into the Financial and Operational Metrics Critical to Success
To truly thrive, you need partners and technology that are flexible to your unique business model and able to easily adapt to changes.
Blog Post: RPM 9 - Leveraging the Power of Automated Workflow to Maximize Cash Collections
XIFIN RPM 9 enhances our existing workflow automation and builds upon our cloud-based platform to add new elements of process automation.
Blog Post: Latest Version of XIFIN Revenue Cycle Management Solution Helps Laboratories Thrive with Enhanced Business Intelligence
XIFIN RPM 9 is designed to help laboratories succeed in today's challenging market and includes many enhancements to our real-time, mobile business intelligence and reporting capabilities.
Blog Post: RPM 9 - Leveraging the Power of Patient and Physician Engagement
XIFIN RPM 9 helps labs drive down costs through automation, maximize the value they gain from their financial operations, and provide the data they need to truly understand their business.
Beyond Billing
Optimize revenue with a full fledged financial system
To succeed in today's environment of increasing regulations and fee compression, diagnostic providers need financial management technology that not only helps improve cash collections, but also delivers visibility and control over financial operations, and provides connectivity within and beyond the organization.
With these increasingly complex needs, diagnostic providers are poorly served by traditional billing systems that lack the referential and financial integrity required to deliver accurate, auditable information. Instead, they need a technology infrastructure with a solid financial and accounting foundation that delivers full visibility to understand the financial status of every diagnostic activity a provider performs, at every stage from order submission to payment. Providers need the information and tools to identify and correct errors, appeal, and take action to ensure maximum reimbursement as well as deliver accurate information for reporting and negotiating contracts, as well as strategically manage the business.
XIFIN RPM medical cycle billing is the answer ─ optimizing billing and accounts receivable processes, automating revenue cycle lab workflow, facilitating claim filing, and reducing regulatory compliance risk.
To succeed, diagnostic providers need financial management and infrastructure technology that not only helps improve cash collections, but also delivers visibility and control over financial operations, and connectivity both within and outside the organization.
''Revenue cycle management represents a key area that needs to be focused on if you’re going to sustain the laboratory business for the long term''
Liana Romero, PhD, MBA, MT (ASCP)
Senior Director, Strategic Marketing and Clinical Affairs, Siemens Healthineers
''The data we get is sound, is valid. Actually, XIFIN is our source of truth. Even when accounting or finance questions volumes, we say, let's go to XIFIN— that's our source of truth''
Bobbi Kochevar
Director of Diagnostic Therapy & Care Management, North Memorial
''XIFIN’s RCM solution, XIFIN RPM, is superior and unrivaled in the diagnostic services market because it enables laboratories and other diagnostic service providers to operate efficiently, collaboratively and in a more sustainable manner in healthcare's uncertain and ever-changing regulatory environment…In addition, customers that have invested in XIFIN RPM highly praise its solutions for demonstrating a solid increase in cash collections, laboratory productivity and efficiency.''
Divyaa Ravishankar
Principal Analyst, Frost & Sullivan
Why XIFIN RPM
XIFIN RPM embodies a unique approach to laboratory billing that goes well beyond a billing system to provide a complete Revenue Cycle Management solution. Designed for the high-speed laboratory environment, XIFIN RPM manages and automates medical claims filing, reduces the risks associated with regulatory compliance, and provides visibility into operational and financial performance.
How XIFIN Revenue Cycle Management Delivers Value:
Industry Segments
XIFIN Business Intelligence
Because you can't manage what you can't measure
XIFIN Business Intelligence is an enterprise-class data warehouse that lets you see how the business is performing, from top to bottom, and every step in between.
Architected for maximum performance and built on a healthcare financial management-specific data model, XIFIN BI delivers accurate, meaningful results that are both GAAP and Sarbanes-Oxley compliant.
Learn More
Only XIFIN Business Intelligence can deliver insights you need to run your organization
XIFIN Managed Services
A key differentiator of XIFIN RPM is the extensive set of managed services that are part of the solution. XIFIN Managed Services do the heavy lifting of maintaining the technology infrastructure, data logic, and perform all submissions, processing, and other data exchanges, so that you can concentrate on optimizing your diagnostic services business.
Ongoing Maintenance of Data Logic
Policy of 100% Reconciliation
Client Success Managers
Billing Solutions
XIFIN Comprehensive and Flexible Billing Solutions
XIFIN has more than 20 years’ experience partnering with laboratories to optimize their revenue cycle management. We offer unrivaled flexibility by allowing you to engage us at a level suited to your needs, whether it be in-house billing, outsourced to our internal operations, or a hybrid of both. With our unique model, XIFIN can help design a solution that fits today, and provide the flexibility necessary to adapt to your changing needs in the future. For example, many start-up labs choose to begin with fully outsourced billing services and later transition to in-house billing once they are ready with the team and the processes to handle these critical functions. Likewise, some established labs that have been handling billing services in-house choose to outsource for the flexibility it provides in terms of staffing and related costs. At XIFIN, we use RPM to drive all outsourced billing operations, so we experience the value of the solution ourselves.
The XIFIN outsourced billing platform ensures our clients have complete visibility at all times. XIFIN clients can access the RPM platform to view, in real time, all claims that are being held for billing due to missing/incorrect information, rejections, denials, and appeals. With XIFIN there are no “black box” operations, both our team and yours can monitor workflow and progress so that no claim ever falls through the cracks. Regardless of the billing option you choose, you can count on higher performance and increased revenue and profit.
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10.5% average increase in revenue in the first year after transition when transitioning from other outsourced billing providers
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21% Average Improvement in Cash Collections for Outsource Clients Submitting over $9B in Annual Claims
XIFIN Technology Platform
A Technology Foundation for Success
The XIFIN technology platform gives diagnostic service providers the ability to leverage multiple information systems and data sources to maximize the effectiveness of both clinical and business decisions. Web-native, the XIFIN platform links the many different stakeholders in the delivery of healthcare, optimizing both business and patient outcomes.
Learn MoreXIFIN iNet Web Services and Portals
Extend your capabilities for maximum impact
The information held within laboratory and radiology billing and information systems is incredibly useful and powerful XIFIN portals and web services help diagnostic service providers leverage these important assets and related system capabilities to their fullest.
Proof in Numbers
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8% Average Improvement in Net Cash Collection, Adjusted for Growth
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61 Million Accessions/Visits Processed Annually
$0B
$29 Billion in Gross Claims Billed Annually
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50% Reduction in Denials
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Threefold Increase in Successful Appeals
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100% Payor Reach
Do You Know Your Total Cost of Billing?
A CEO's Guide to Measuring Total Cost of Billing in the Laboratory
When assessing billing solutions and options, many organizations fail to take into account all the various elements that comprise the organization’s true cost of billing. This white paper specifically addresses how increasing revenue and cash collection can contribute significantly to lowering the total cost of billing.
Download White Paper
Calculate Your Total Cost of Billing
In conjunction with the white paper, "A CEO's Guide to Measuring Total Cost of Billing in the Laboratory," XIFIN has created an in-depth calculator in which you can calculate and print your organization's total cost of billing. When total billing costs are accurately evaluated, laboratories can benchmark themselves against industry averages.
View Calculator
RPM 9: Leveraging the Power of Automated Workflow to Maximize Cash Collections
We believe that diagnostic providers are a crucial and powerful part of the healthcare system. They are often, however, undervalued by the industry.
What’s Your Strategy? Successful Collection of Patient Balances
With the finalized PAMA 2018 Clinical Lab Fee Schedule published, laboratory leaders are actively seeking new ways to offset the planned reduction in reimbursements for 2018.
What’s the Best Way to Avoid Front-End Denials? Clean Claims
Have you ever had a medical insurance claim denied? Most people have. The statistics vary based on the healthcare segment and the source, but typically the average claim denial rates range from 5% - 10%.
Why You Need a Technology Platform that Moves with Your Changing Needs
When someone is assessing their business’ needs, they should be looking out for long-term solutions.
XIFIN RCM Consulting
XIFIN's Revenue Cycle Management (RCM) Consulting team has extensive experience in developing and optimizing billing organizations and workflows for molecular, clinical, toxicology, pathology, and medical devices, for purposes of improving financial performance and accelerating cash flow.
Flexibly Outsource All or Part of Your RCM Process
With XIFIN, you choose whether the best option for your organization is outsourcing your RCM operations, conducting these activities in-house with your own staff, or a custom combination of these two approaches. Plus, as your business needs chance, you can easily transition between the models.