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XIFIN® has developed the first comprehensive Accounts Receivable and financial management solution for clinical laboratories designed specifically to address the problems that undermine the effectiveness and efficiency of laboratories’ Revenues Cycle Management. |
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The Problem Lower Cash Collection Rates Loss of Reliable Financial Information
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The ProblemRapid advances in diagnostic testing, automation and informatics are likely to transform the laboratory industry in the near future. But, while most labs advance in their core business their ability to manage the revenue cycle process lags and undermines profitability. That’s because their billing systems were never designed to handle the complexities, changes and competition faced by today’s laboratories. The most obvious outcome of this has been lower cash collection rates. But, a more subtle, yet equally important consequence has been the loss of reliable financial information critical to running their businesses.
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