A CEO’s Guide to Doubling Profitability: Using Technology to Reduce Back-Office Costs

PRESS RELEASE

THE DARK REPORT
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FOR IMMEDIATE RELEASE

Media Contact: Ron Martin
rbmartin@darkreport.com

 

AUSTIN, Texas (May 1, 2012) – The healthcare landscape continues to rapidly evolve. Reimbursement models and technology are both changing to increase the overall efficiency of the system. In this rapidly changing environment, there are steps a laboratory can and must take to maximize profitability.

One of the key elements to maximizing profitability is to leverage technological solutions. Cost savings, particularly in the billing department, can make a significant difference to profitability. Costs such as claims processing, eligibility checking, payment processing, client services, internal IT services, full integration, and others, can all be modulated using technology to decrease costs and, in some cases, to significantly increase revenue.

Lâle White, Executive Chairman and CEO of XIFIN, Inc., says, “In an effort to rein in spending, payors are rapidly driving the industry to new reimbursement models. These new, primarily results-based models are changing the paradigm for clinical laboratories from ‘work harder and earn more,’ to ‘work smarter and create value.’”

The Dark Report is delighted to offer a recently published FREE White Paper, “A CEO’s Guide to Doubling Profitability: Using Technology to Reduce Back-Office Costs.” Published by The Dark Report (www.darkreport.com) and Dark Daily, (darkdaily.com) it is available free to laboratory professionals as a PDF download. This White Paper is part of an ongoing series of “A CEO’s Guides…” that look at topics related to revenue cycle management in various aspects of the clinical diagnostic laboratory.

Along with other topics, this FREE White Paper specifically addresses:

• Models of profitable, well-run clinical laboratories

• An analysis of specific back-office cost centers

• An overview of claims processing challenges

• An assessment of technological solutions for cutting costs in clinical laboratories

The paper’s co-authors are Lâle White, Executive Chairman and CEO of XIFIN, Inc. and David Lorber, PhD, Director of Business Development, XIFIN, Inc. Ms. White is a nationally recognized expert in the field of medical financial management and regulatory compliance, with over 25 years of experience in information systems development and medical billing. She lectures extensively on these topics and has consulted for major laboratories and laboratory associations throughout the U.S.

Before becoming Director of Business Development at XIFIN, Dr. Lorber was the Director of Global Sales Operations at Accelrys. He began his career as a computational chemist designing early-stage drug leads for oncology targets. He holds a PhD in Computational Chemistry and an MBA.

The paper’s editor is R. William (Bill) Taylor, Chief Marketing Officer of XIFIN, Inc. Mr. Taylor brings over 25 years of high technology experience focusing on software companies ranging from start up to multi-billion dollar enterprises. Most recently Mr. Taylor served as VP, Marketing and Corporate Development for Accelrys Inc., where he drove the re-invention of the company’s mission and grew revenues from new markets at 50 percent per year, resulting in a bookings increase of over 300% in three years.

This White Paper, “A CEO’s Guide to Doubling Profitability: Using Technology to Reduce Back-Office Costs,” is available for free download as a PDF at http://darkdaily.com/white-papers/a-ceos-guide-to-doubling-profitability-using-technology-to-reduce-back-office-costs-42312. It is part of the Dark Daily Resource Center, which has a growing library of White Papers and other information resources tailored specifically for the needs of laboratory administrators, lab managers, pathologists, and lab industry consultants.

 

For additional information, Contact: Ron Martin at 512-264-7103

About THE DARK REPORT

Established in 1995, THE DARK REPORT  is the leading source of exclusive business intelligence for laboratory CEOs, COOs, CFOs, Pathologists and Senior industry executives. It is widely-read by leaders in laboratory medicine and diagnostics. The DARK REPORT produces the famous Executive War College on Laboratory and Pathology Management (every spring, which showcases innovations by the nation’s and globe’s leading laboratory organizations. Dark Daily is an Internet-based e-briefing intelligence service, read worldwide by thought leaders in laboratory and pathology management. Other well-known conferences conducted by THE DARK REPORT are Lab Quality Confab (on the use of Lean and Six Sigma methods in labs and hospitals), Molecular Summit (on the integration of in vivo and in vitro diagnostics). THE DARK REPORT co-produces Frontiers in Laboratory Medicine annually in the United Kingdom; Executive Edge bi-annually in Canada; and The Business of Pathology bi-annually in Australia.

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