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XiFin Next-Generation Revenue Cycle Management Helps Laboratories Thrive – Whether Managed In-House or with Outsourced
December 8, 2017
XiFin is proud to announce the latest release of RPM designed to help laboratories succeed in today’s challenging market. This release, XiFin RPM 9, extends our laboratory billing capabilities for both in-house and outsource clients and includes new automated workflows to maximize cash collection, real-time business intelligence, and built-in reporting for the latest PAMA and FASB requirements. XiFin RPM is the solution that hundreds of laboratories rely on to process more than 200 million medical claims annually.
A series of upcoming posts will highlight some of the specific capabilities now available.
“We are using XiFin RPM 9 for our current outsource clients, and the enhanced workflow capabilities have enabled our billing team to uncover additional cash collections far beyond what we previously considered possible. Our outsource clients have realized a 21 percent improvement in cash collections since we began using XiFin RPM 9, and have significantly lowered days sales outstanding across the board.”
Kyle Fetter
Executive Vice President and General Manager of Diagnostic Services, XiFin
First up is the availability of outsourced services. The XiFin outsource service model creates flexible delivery options for hospital and health system outreach labs and other organizations that may prefer to outsource. Under this model, the same award-winning revenue cycle management solution, XiFin RPM, is used by the XiFin dedicated outsource billing group to perform the billing functions required to maximize reimbursements.
Outsource RPM clients receive complete billing and revenue cycle management support from a dedicated outsourcing billing group currently processing nearly $9 billion in gross laboratory claims. The XiFin outsource billing team uses all of the best practices XiFin has accumulated working with many of the nation’s leading labs. We bring this collective intelligence to each outsource client’s processing or claims to minimize denials and optimize cash collection.
XiFin outsource clients have the flexibility to move between delivery options should their business needs change. For example, a client may choose to start with an outsource model and easily move to in-house billing and collection when they have the staff in place to take it on. Likewise, a current in-house RPM client may choose to move to the outsource service model if they need more flexibility in their staffing.