North Memorial Reference Laboratory (NMRL) is considered a revenue-generating department within North Memorial Health. As part of a system-wide initiative, the laboratory’s billing was outsourced to a national medical outsource billing service. Unfortunately, the billing service vendor did not provide the transparency, quality, data, or reporting that the NMRL team expected. As such, the laboratory was struggling to secure the insights needed to manage its business effectively.
With XIFIN RPM, NMRL is able to optimize its billing and collection practices, automate its billing workflow, better manage medical claim filing, and reduce regulatory compliance risk. The organization is now in full control of its billing, without having to take on hardware and software maintenance or data management. With XIFIN, NMRL achieved the following results:
- 30% year-over-year increase in revenue
- 60% reduction in contractual allowance write-offs
- 100% reconciliation each month
- Increased payment per accession
- High client satisfaction
- Improved employee morale