XiFin Celebrates 20 Years

This year marks the 20^th anniversary of the founding of XiFin; Chief Executive Officer Lâle White recently shared her memories of the past two decades as well as her vision for the future.

From the get-go, we created XiFin to provide innovative software and services to enable better informed decisions in the laboratory environment. Then, as now, the XiFin team was committed to helping laboratories excel, in terms of both profit earned and healthcare outcomes. The XiFin team envisioned a platform with connectivity that fostered bi-directional, real-time communication across the healthcare spectrum. Based on the most sophisticated software and technology available—cloud-based before the term had been coined—XiFin’s first commercial (and currently our flagship) product was launched in 2001. XiFin focused first on improving laboratory revenue cycle management (RCM), because we recognized that it was one of the largest administrative expenses for many laboratories, which could be a significant drag on profits. There was redundancy and waste and labs often found it challenging to get paid.

Revenue cycle excellence provides laboratories with a solid foundation of financial integrity, crucial to accelerating both profitability and positive healthcare outcomes. Taking advantage of cloud technology, our award-winning RCM solution provides innovative technology, automation and workflow, connectivity, and financial integrity. Our ability to bring this vision to life has fueled the company’s growth, and garnered it many accolades over the years. Today, over $29 billion in gross claims are billed annually through XiFin revenue cycle management solutions, and this year was the 11^th year that XiFin was recognized as one of Inc. Magazine’s fasted growing private companies.

As we look to the future, the XiFin team sees the marriage of clinical and financial data as imperative to optimizing healthcare quality and patient outcomes. The laboratories that have brought together financial and clinical data will be the ones to conduct healthcare economic analyses, and understand and manage their businesses in ways that were previously unattainable.

Standing now at the 20-year mark, I am tremendously proud of our XiFin team, and I look forward to what we will accomplish in the coming years. XiFin will continue to bring to bear its data, technology, and talents to continue innovating ahead of the market and supporting our clients in further improving their business results.