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XIFIN Wins Best Practices Leadership Award for Precision Medicine Informatics

  • AVP Product & Partner Marketing, XIFIN

XIFIN recently received the prestigious 2019 Global Precision Medicine Informatics Enabling Technology Leadership Award from Frost & Sullivan, a growth strategy consulting firm. The award recognizes XIFIN’s strategic thought leadership, innovation, and performance exhibited in the precision medicine informatics industry.

We are honored to be recognized by Frost & Sullivan for our commitment to improve precision medicine programs by providing a platform that integrates clinical, diagnostic, and financial data and making it accessible by healthcare professionals so they can gain insight, make better decisions, and improve patient care and outcomes.

Frost & Sullivan’s independent evaluation uses key benchmarking criteria. The first grouping of criteria was related to technology leverage, including innovation, creativity, stage-gate efficiency, commercialization success, and application diversity. The second group was focused on customer impact as it relates to price/performance value, purchase experience, ownership experience, brand equity, and service experience.

Additionally, Frost & Sullivan analysts follow a 10-step process to evaluate award candidates and assess their fit with select best practices criteria. The reputation and integrity of the awards are based on close adherence to this process.

“By offering innovative solutions, such as its informatics VisualStrata platform, to address healthcare industry challenges like mitigating reimbursement issues, improving operational efficiency, and demonstrating clinical utility for new/existing diagnostic tests, XIFIN has created an uncontested market space within the precision medicine informatics industry,” explained Frost & Sullivan in its award analysis. “Frost & Sullivan endorses XIFIN for championing business transformation and for constantly creating disruptive solutions to boost its organic growth in the health data management tools market.”

Commitment to Innovation

Delivering precision medicine involves leveraging a combination of multiple data sets rendered in a meaningful way so different healthcare system stakeholders can digest harmonized information accurately.

As part of its assessment of XIFIN, Frost & Sullivan highlighted four core functions of the VisualStrata software solution that they said addresses the requirements of precision medicine programs:

  1. Record and case management — VisualStrata helps curate patient biomarker data into a unified system. The tool also connects with a wide variety of EHR systems, offering a seamless view of the continuity of care for each case.
  2. Communication and collaboration — The tool’s collaboration dashboard helps virtual multidisciplinary team conferencing and coordination between healthcare teams and institutions, resulting in reduced turnaround times for physician diagnosis.
  3. Health quality reporting — As healthcare costs increase, justifying the cost of diagnostic tests, treatments, or prescribed diagnostic pathways becomes necessary. Also, the rise of healthcare expenditures means more pressure to demonstrate outcome-based methodologies. Visual Strata helps correlate treatment costs with patient outcomes.
  4. Generate real-world evidence — The tool provides intelligent analytics from several sources, such as pathology, radiology, genomics with treatment, and clinical notes. The clinical side, coupled with financial data, results in real-world data, possibly leading to new treatment insights for individual patients.

“Frost & Sullivan analysis of XIFIN’s precision medicine informatics platform VisualStrata reveals that the software solution adds a whole different layer of analytics that is crucial to mining information from various touchpoints across the healthcare ecosystem,” the analysis concludes. “Without this IT enabler, the information would still be trapped in silos, which otherwise could yield a wealth of knowledge.”

Other highlights from Frost & Sullivan’s analysis include:

  • The knowledge engineering framework used to construct VisualStrata incorporates technologies that can manage images and text from multiple modalities and specialties across the healthcare system, such as radiology (DICOM) and pathology (text-based).
  • VisualStrata benefits can be reaped most by diagnostic testing providers, payors, and cancer care practices.
  • Adopting VisualStrata within a cancer care center can help improve performance and tackle reimbursement issues using real-time reporting and quality measures.
  • XIFIN offers RCM (revenue cycle management) and LIS solutions, which, when coupled with VisualStrata, can provide benefits to streamline reimbursement appeals and to develop real-world evidence to establish clinical utility and cost savings on a new or existing diagnostic test.

To learn more about the Frost & Sullivan leadership award, precision medicine best practices, and industry challenges, download  Frost & Sullivan’s 2019 Global Precision Medicine Informatics Enabling Technology Leadership Report. To find additional precision medicine informatics or healthcare information management resources, visit www.visualstrata.com.
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Published by XIFIN
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