Diagnostic laboratory and independent device testing facility (IDTF) leaders face increasing volumes, more rigorous payor requirements, and changing reporting requirements. Diagnostic providers are actively seeking to maximize reimbursements and reduce costs. To help meet these demands, XIFIN has introduced the latest version of its an award-winning revenue cycle management (RCM) platform, XIFIN RPM 11, which features a new level of automation, enhanced portals, and advanced analytics and AI options.
These new capabilities help leaders respond to challenging market demands, patient expectations, and reimbursement challenges. XIFIN RPM helps organizations optimize cash collections, take advantage of real-time connectivity and error correction, and gain access to enhanced self-service tools for patients and physicians alike.
Many diagnostic and testing claims begin the RCM process with errors that need correction before being submitted. In the absence of automation, this results in the need for costly manual intervention; otherwise, millions of dollars are never collected. XIFIN RPM 11 provides robust automation with configuration across multiple levels, including facility, client, and payor, as well as both individual and batch claims submissions and status requests. Real-time connectivity and error correction and integrated patient demographic or insurance discovery capabilities mean missing or incorrect information is identified to enable clean claim submission, resulting in reduced denials and more timely reimbursements.
Superior Automation Optimizes Revenue
One of the most labor-intensive parts of the claims process is denials and appeals management. With XIFIN RPM 11, much of the denials and appeals management process can be automated, including the attachment of additional documentation (i.e., medical necessity, prior authorizations) and generation of appeal letters. Only the most complicated claims are left to be handled by exception, which ultimately reduces the total cost of billing.
Enhanced Patient & Physician Self-Service Improves Engagement
Increasing patient responsibility and evolving expectations drive the need for diagnostic providers to offer expanded consumer-facing services and information. XIFIN RPM 11 features a patient self-service portal that lets patients determine insurance eligibility and estimate out-of-pocket expenses for greater cost transparency. It also features expanded billing and payment collection options, including patient notification letters and interactive statements. XIFIN RPM 11 also includes a physician portal to enable supporting documentation submission and enhanced information exchange as well as eligibility and patient responsibility estimation at the time of the order.