Avoiding LIS Disruptions: Applying Lessons Learned from Southwest Airlines
This blog expands on the impact related to a recent blog, "What Can Medical Providers Learn from the Southwest Airlines Fiasco." If you missed that blog, we encourage you to read it. In healthcare, especially laboratory testing, a significant percentage of medical decisions are based on test results. Laboratory test results influence approximately 70% of medical decisions that are made by...
Measuring Real Client Profitability for Diagnostic Providers with Large National Sales Teams
Finance and sales executives for diagnostics companies with large national sales teams are becoming sophisticated in measuring sales productivity in terms of number of calls, revenue per client, revenue per rep, and even revenue per call. To better serve clients and patients, providers can leverage analytics covering the full transaction cycle—order-to-cash—to determine actual client...
Optimizing Billing and Cash Collection—Valuable Lessons Specialty Providers Can Learn from Clinical Laboratories
In our work at XiFin, we support a wide variety of medical providers, many of whom share similar challenges. While our founders and initial clients come from the laboratory space, we see an expanding need for flexible revenue cycle technology and services in other specialty and ancillary spaces. Specialty providers like radiologists, pathologists, anesthesiologists, remote patient monitoring...
Outsourcing Your Billing Processes: When does it make sense for outpatient diagnostic services?
From IT and EHR support to back-office functions, hospitals are increasingly turning to business process outsourcing (BPO) to relieve staffing and financial pressures. Within the hospital ecosystem – where technology and processes are typically optimized for high-acuity clinical encounters – outpatient and ancillary services departments can find it difficult to overcome their unique business...
Automation Strategies for Molecular Diagnostic Market-Share Expansion
This blog post is the third in our series covering the keys to success for market-share expansion in molecular diagnostics based on our recently published whitepaper, “The Executive’s Guide to Molecular Diagnostic Market-Share Expansion”. If you missed either of the first two posts in this series, you can find the first post, “Molecular Diagnostic Market-Share Expansion: Keys to Success” here and...
What The End of The PHE Means for Laboratory Providers
With the announcement from President Biden that his administration plans to end the COVID-19 Public Health Emergency (PHE) on May 11, 2023, many diagnostic providers are wondering how they will be impacted. CMS has published several provider-specific fact sheets about the PHE waivers and flexibilities, including which have been terminated, have been made permanent or will expire at the end of the...
Tired of Hidden Charges from Your LIS Vendor?
One of the most common complaints from laboratory executives is hidden charges that they face from their LIS providers. In our recent LIS State of the Industry Survey, a common theme among respondents was the cost of their LIS and the unpredictable charges they often face.Laboratory leaders routinely see unexpected charges for: Hardware/server upgrades Operating system upgrades Security...
The Importance of Physician and Patient Engagement for Molecular Diagnostic Market-Share Expansion
This blog is the second in our series covering the keys to success for market-share expansion in molecular diagnostics outlined in our recent whitepaper, “The Executive’s Guide to Molecular Diagnostic Market-Share Expansion”. If you missed the first blog in this series, find it here.As more molecular diagnostic testing moves from physician offices and laboratories to the home, molecular...
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