XIFIN(TM), Inc., the leading provider of revenue cycle management for diagnostic service providers, today announced the release of a white paper outlining how laboratory valuations can be positively impacted by the appropriate use of state of the art Revenue Cycle Management technologies.
The white paper, edited and hosted by Robert Michel, Editor-In-Chief of The Dark Report and President of The Dark Intelligence Group, Inc, details how three laboratories, US Labs, Westcliff Medical Laboratories, and Piedmont Medical Laboratories used XIFIN's Software as a Service (SaaS) based Revenue Cycle Management to improve top line performance, while ensuring the revenue cycle process was optimized for productivity and regulatory compliance.
"Revenue Cycle Management (RCM) is a cornerstone of the cash flow and profitability generated by every clinical laboratory and outreach testing programs in this country," observed Michel. "Yet there is little information available to laboratory executives, clinical lab managers, and pathologists about how to assess their laboratory's effectiveness at RCM. This white paper fills that knowledge vacuum.
"The three laboratory case studies presented in the white paper on Revenue Cycle Management in clinical laboratories help any lab manager understand the practical ways that RCM can help every laboratory," added Michel.
"Our ability to recognize net revenue and maximize collections not only increased PML's valuation, but played a key role in our ability to attract an M&A suitor, get the best price and quickly navigate the process," said Joe Skrisson, CEO of Piedmont Medical Laboratories.
"Maximizing laboratory reimbursement has always been the untapped reserve that can lead to increased valuation," said Lale White, XIFIN's CEO and Executive Chairman. "Laboratory valuation is all about top line revenue, profitability, and minimizing risk. All of these elements can be positively impacted by state of the art Revenue Cycle Management."
The white paper, A CEO's Guide to Increasing Laboratory Valuation, can be downloaded from the Dark Daily website. To access a "CEO's Guide to Increasing Laboratory Valuation: Effective Revenue Cycle and Compliance Management are Critical Success Factors" go to http://www.darkdaily.com/white-papers/ceo-guide-to-increasing-laboratory-valuation-effective-revenue-cycle-and-compliance-management
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