What Can True Business Intelligence Do For Your Organization?

To thrive in today’s market, laboratories need ready access to accurate and complete financial data that can be easily analyzed to understand business performance and key market trends. This information also needs to be fully auditable and represent both point-in-time and rolling time-period increments.

XiFin Business Intelligence (BI), a crucial element of RPM 9, delivers enterprise-grade BI through a cloud-based data warehouse and business analytics. With XiFin BI, you’ll gain visibility into your progress against key financial and operational performance indicators, as well as monthly metrics and quarterly benchmarking reports that show you how your results compare with other companies in your business segment.

You’ll also have ready-access to many important operational insights such as:

• Denials — not just for each payor but for each payor plan
• Cash improvements across each appeal attempt
• The data you need to ensure expect pricing is correct and that you’re getting paid properly

XiFin Business Intelligence includes many valuable capabilities including:

• Detailed tracking at individual test/accession level to ensure full reportability and referential integrity.
• PAMA reports to easily generate the required submission data as well as detailed reports to help audit the data, including a breakdown of what is submitted versus excluded.
• The ability for laboratories to efficiently model financial data to best suit their unique mix of tests, payors, and patients, providing a reporting formula for every class or type of contract they have with health insurers.

True revenue cycle management is all about having visibility to fully understand the financial and operational status of every bit of work the lab or diagnostic provider performs — from order submission to payment. It’s about having the information and tools to identify and correct errors up-front, streamline appeals, and take the right actions to ensure maximum reimbursement.

Information is Power. Visibility & Transparency is Priceless.

Download the Business Intelligence Booklet to get more detailed information about this capability that is built into XiFin RPM.

Download BI Booklet