Life Technologies Corporation Selects XIFIN Revenue Cycle Management Platform for Molecular Diagnostics
XIFIN Inc., the financial cloud computing company revolutionizing the business of healthcare diagnostics from patient to payment, announced today that Life Technologies Corporation, a global biotechnology company, has selected XIFIN's revenue cycle management technology platform for its newly launched CLIA-certified laboratory services business.
In addition to providing Life Technologies with its next generation, cloud-based RCM platform, XIFIN's consulting division will be serving in the capacity of strategic advisor on reimbursement initiatives with the objective of demonstrating the value that real time, actionable, accessible and accurate information plays in enhancing the role of diagnostics in the healthcare continuum.
“The diagnostic services landscape is changing, with new players emerging from the list of Fortune 500 companies,” stated Lâle White, CEO of XIFIN. “We are proud of our leadership position in reimbursement and excited that technology-savvy companies like Life Technologies recognize the critical role our platform plays in the future of diagnostic business operations. Being selected is a strong endorsement of both our technology and reimbursement leadership, and the outstanding results we have delivered for our clients. We look forward to a partnership that will advance the practice of health diagnostics.”
“We selected XIFIN because we believe they offer the most effective and comprehensive solution for our market, as well as a shared vision of real time decision support and an end-to-end solution for the molecular pathologist,” said Dr. Paul Billings, Chief Medical Officer of Life Technologies.
XIFIN processes more than 100 million claims per year across a wide variety of healthcare segments including clinical, hospital outreach, anatomic pathology, molecular diagnostics, toxicology, radiology and more. Customers see significant improvements in profitability by collecting 8 percent additional cash on average in the first 12 months, and have realized cumulative gains of $1 billion in net cash collection, adjusted for growth.
XIFIN delivers cloud-based revenue cycle management solutions that enable diagnostic service providers to improve cash collections and gain efficiencies that substantially improve the bottom line. XIFIN leverages its expertise and collective intelligence to deliver automation, visibility, and control through a partnership formula that ensures aligned goals, long-term focus on success, and constant attention to ongoing improvement. The company has received continual industry recognition, including being named to the Inc. 5000 fastest growing privately-held companies for the past six years, and ranking among Deloitte's Technology Fast 500. To learn how XIFIN uniquely delivers revenue cycle management, visit www.XIFIN.com, or follow XIFIN on Twitter at www.twitter.com/#!/xifin.