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Interpace Biosciences, Inc., a leader in molecular testing for cancer risk, today announced that it has expanded its relationship with XIFIN, Inc. to deploy XIFIN’s award-winning revenue cycle management solution, XIFIN RPM 12, enterprise-wide to support all Interpace Diagnostics testing services. XIFIN, a leader in cloud-based revenue cycle management (RCM), has worked with Interpace since 2019. This new agreement represents a further commitment between the two organizations and will allow Interpace to recognize significant savings and reduced costs associated with billing and collections for its services.
“We are pleased that we have entered into a new strategic partnership with XIFIN to improve our revenue cycle management processes and results,” said Tom Burnell, President and CEO of Interpace Biosciences. “As our business continues to grow, it is imperative that we realize the benefits of leveraging our financial performance improvements, and we are confident that we will achieve this outcome by working closely with XIFIN.”
At the onset of the coronavirus pandemic in the U.S., health officials urged patients to delay their routine cancer screenings, leading to a dramatic drop in cancer-related testing. Routine testing has been on the rise ever since those early months, according to XIFIN’s Lab Volume Index, a laboratory test tracker informed by payment data. Now, one year later, routine testing volume is higher than it was pre-COVID, and higher still for the molecular diagnostic segment. This indicates that demand remains strong for these services and people have become more comfortable rescheduling those screenings and visiting their doctors in-person for the necessary screening protocol, with safety precautions.
“Our expanded relationship with Interpace reflects a commitment by our organization to ensure this important customer continues to achieve its financial goals, and is able to further streamline its billing operations,” said Kyle Fetter, chief operating officer at XIFIN. “This enhanced partnership is especially important now while we continue to navigate a complex billing environment with new, strict regulations for reimbursement approvals.”
XIFIN has more than 20 years’ experience partnering with diagnostic providers to help them efficiently manage their business. XIFIN RPM 12 automates the end-to-end revenue cycle management (RCM) process and provides actionable insights through robust advanced analytics solutions. The XIFIN RPM accounts receivable and financial management platform maximizes reimbursements and cash collections through integrated capabilities that include robust workflow automation, enhanced patient and client portals, and additional business intelligence (BI) solutions, including AI-enabled advanced analytics.
Posted In: IDXG
