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Revenue Cycle Management Solutions

Powered by our Health Economics Optimization platform, XIFIN RPM is a comprehensive, highly automated Revenue Cycle Management solution that maximizes efficiency, improves cash collection, and increases financial accuracy.

XIFIN RPM

Optimize your revenue performance with a full fledged financial system

Diagnostic data is a critical element of healthcare decisions, and billing is the point of convergence for diagnostic, demographic, and other information that combine to enable providers, payors, and patients to optimize healthcare. Billing and reimbursement related to diagnostics is not only highly complex, it also occupies a critical position in healthcare delivery.

To succeed, diagnostic providers need financial management and infrastructure technology that not only helps improve cash collections, but also delivers visibility and control over financial operations, and connectivity both within and outside the organization. 

''The data we get is sound, is valid. Actually, XIFIN is our source of truth. Even when accounting or finance questions volumes, we say, let's go to XIFIN— that's our source of truth''

Bobbi Kochevar

Director of Diagnostic Therapy & Care Management, North Memorial

A Billing System Will Not Give You What You Need

With the reimbursement, reporting, and connectivity challenges confronting the industry today, laboratories and other diagnostic providers don’t need a billing system, but a technology infrastructure with a solid financial and accounting foundation. With their fundamental focus on the transactional aspects of claims, billing systems were never designed to have the strict referential and financial integrity that's required to deliver accurate, auditable, and actionable information.

Revenue cycle and performance management is about having visibility to fully understand the financial status of every bit of work the laboratory/diagnostic provider performs, at every stage of its path from order submission to final payment. It's about having the information and tools to identify and correct errors, appeal, and otherwise take action to ensure maximum reimbursement. It’s delivering accurate information for required reporting, spotting trends, leveraging information to negotiate contracts and strategically manage the business.  

This is not to say the billing function is not important, because it is crucial to success. But billing needs to be done within the framework of this larger picture, or it will never achieve the desired financial results. Successful billing requires a sound technological foundation and optimized business processes.

Why XIFIN RPM

XIFIN’s approach to laboratory billing is unique, and goes well beyond a billing system to a complete Revenue Performance Management solution. Designed for the high-speed low-margin laboratory environment, XIFIN RPM manages and automates medical claims filing, reduces the risks associated with regulatory compliance, and provides visibility into operational and financial performance.

Six key differentiators characterize XIFIN RPM:

Strong Technological Foundation

Cloud-based and designed for interoperability, XIFIN RPM is well-suited to today’s ever-changing and hyperconnected healthcare universe. While other solutions require lengthy integrations that fail to adapt to systemic changes, fall out of date quickly, and require significant investment in care and maintenance, XIFIN RPM is constantly and transparently updated. Our interoperable health economics optimization platform enables secure, flexible, extension to other internal and external systems.

Financial Underpinnings

Unlike traditional laboratory billing systems, XIFIN RPM was built to be a full Revenue Performance Management system. Written in a financial language and built to have full referential integrity, the solution balances every client to the penny, every month. Included is a complete financial accounting package that delivers GAAP and Sarbanes-Oxley compliant financial data for the general ledger; the system gives your management team the accuracy and detail needed to manage with confidence.

Business Intelligence

You cannot manage what you cannot measure, so XIFIN RPM includes as part of its service a full-fledged data warehouse that delivers world class business intelligence.

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Automation & Optimized Workflow

XIFIN RPM employs sophisticated, highly configurable automated workflows that ensure upfront clean claim submissions in the shortest possible time. Because it's not about getting claims out the door; it's about getting out clean, reimburseable, trackable claims.

XIFIN Expertise and Managed Services

XIFIN handles the countless payor edits, regulatory modifications, and other changes so that you can concentrate on optimizing your billing; our laboratory billing expertise is unmatched. No other solution provides this level of service, and it is the key to ensuring you bill and collect all that is due to your lab, as quickly as possible. Our cloud-based platform makes delivery of such an extensive set of managed services possible. 

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Connectivity

In an era of value-based care and connected health, the ability to leverage information systems and data sources is critical to succeed. XIFIN RPM was architected for connectivity and interoperability, and XIFIN web services deliver capabilities and information where they are needed. From patient and client portals to external systems, XIFIN web services operate flexibly, seamlessly, and with HIPAA and Internet security protocols built in. They enable two way data exchanges in real time, thereby removing redundancies and data latencies. 

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XIFIN Business Intelligence

Because you can't manage what you can't measure

XIFIN Business Intelligence is an enterprise-class data warehouse that lets you see how the business is performing, from top to bottom, and every step in between.

Architected for maximum performance and built on a healthcare financial management-specific data model, XIFIN BI delivers accurate, meaningful results that are both GAAP and Sarbanes-Oxley compliant.

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Liya Wu, Director of Information Engineering, explains the versatility of the different Business Intelligence product solutions and how they benefit XIFIN clients.

Only XIFIN Business Intelligence can deliver insights you need to run your organization

  • Integrated, aggregated, and historical reports
  • End of month analysis that validates your XIFIN RPM end of month package
  • Trending, snapshots, dashboards, it's all available
  • Operational reports & alerts
  • Ability to federate data from additional sources
  • Mobile BI available for executives and field sales reps
  • Self service: business users can access what they need; no need to know SQL query

XIFIN Managed Services

A key differentiator of XIFIN RPM is the extensive set of managed services that are part of the solution. XIFIN Managed Services do the heavy lifting of maintaining the technology infrastructure, data logic, and perform all submissions, processing, and other data exchanges, so that you can concentrate on optimizing your diagnostic services business.

Ongoing Maintenance of Data Logic

Policy of 100% Reconciliation

Client Success Managers

Featured Success Stories

XIFIN Health Economics Optimization Platform

A Technology Foundation for Success

The XIFIN Health Economics Optimization (HEO) platform gives diagnostic service providers the ability to leverage multiple information systems and data sources to maximize the effectiveness of both clinical and business decisions. Web-native, the XIFIN HEO platform links the many different stakeholders in the delivery of healthcare, optimizing both business and patient outcomes.

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XIFIN iNet Web Services and Portals

Extend your capabilities for maximum impact

The information held within laboratory and radiology billing and information systems is incredibly useful and powerful XIFIN portals and web services help diagnostic service providers leverage these important assets and related system capabilities to their fullest.

XIFIN Portals

XIFIN portals improve efficiency by delivering functionality to constituents like patients and physician offices in an intuitive web interface.

XIFIN Web Services

XIFIN web services enable "digital conversations" with a two-way data exchange between systems in real time.

Proof in Numbers

0%

10% Average Improvement in Net Cash Collection, Adjusted for Growth

0M

61 Million Accessions/VisitsProcessed Annually

$0B

$29 Billion in Gross Claims Billed Annually

0%

50% Reduction in Denials

0X

Threefold Increase in Successful Appeals

0%

100% Payor Reach

Do You Know Your Total Cost of Billing?

The only way to optimize revenue and financial performance is to know your true total cost of billing as a percent of revenues. XIFIN clients typically see a total cost of billing that is half as much as industry averages.

Most diagnostic providers grossly underestimate their total cost of billing; in fact, we have found organizations routinely underestimate total cost of billing by a factor of four or more. As a result, faulty decisions about revenue cycle technology and staffing are made that can lead to a significantly poorer financial picture and inferior accounts receivable performance.

Interested in Learning More?

See how one XIFIN customer saw a 17% improvement in cash after switching to XIFIN RPM. Read "XIFIN RPM vs. Licensed Lab Billing Software."

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XIFIN RCM Consulting

XIFIN's Revenue Cycle Management (RCM) Consulting team has extensive experience in developing and optimizing billing organizations and workflows for molecular, clinical, toxicology, pathology, and medical devices, for purposes of improving financial performance and accelerating cash flow.

  • Commercialization & reimbursement
  • Transition from outsource to in-house billing
  • Optimize existing XIFIN RPM solution
  • Consolidate billing operations
Bonnie Fisher

Vice President, Molecular Diagnostics Support Services

As vice president of molecular diagnostics support services at XIFIN, Bonnie Ancone Fisher brings experience from over 33 years in the healthcare industry of which over 21 years have been directly related to medical billing and collections.

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Tim Langford

Senior Manager, Revenue Cycle Strategy

As Senior Manager, Revenue Cycle Strategy, Tim Langford brings experience from over 35 years of workflow and process management and consulting roles. The last 13 years have been directly related to laboratory revenue cycle, specifically via XIFIN RPM, making Tim a subject matter expert.

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