▾ G11 Media Network: | ChannelCity | ImpresaCity | SecurityOpenLab | Italian Channel Awards | Italian Project Awards | Italian Security Awards | ...
InnovationOpenLab

XiFin Launches Payor Intelligence Hub, Expands Payor Rate Transparency Monitor with Major Payor Additions

#digitalpathology--XiFin, Inc., a leading provider of innovative healthcare information technologies and services that deliver artificial intelligence (AI)-enabled operational efficiency, interoperabi...

Business Wire

Real-World Data Delivers Unique Insights to Help Healthcare Providers Navigate Changes in Payor Reimbursement Behaviors, Develop More Comprehensive Market Access Strategies

SAN DIEGO: #digitalpathology--XiFin, Inc., a leading provider of innovative healthcare information technologies and services that deliver artificial intelligence (AI)-enabled operational efficiency, interoperability, and simplicity, announced it has significantly enhanced its Payor Rate Transparency Monitor, adding two major payors — Humana and Blue Shield of California (BSCA) — to provide healthcare organizations with deeper insights into in-network contracted rates across millions of payor reported records. Combined with new analytic data and user interface enhancements, the Payor Rate Transparency Monitor furthers XiFin’s commitment to empowering healthcare providers with the tools they need to navigate complex reimbursement landscapes and enhance their financial performance.

Payor Rate Transparency Monitor: A Critical Tool for Navigating Payor Behavior

The new release of the XiFin Payor Rate Transparency Monitor, the first-of-its-kind online resource, now offers a more comprehensive view of the payor landscape, through interactive visualizations drawn from 7 terabytes of data reported by payors pursuant to the CMS Transparency in Coverage (TiC) Final Rule. These additions, along with significant interface upgrades, make it easier for healthcare organizations to access and compare payor data in real time.

“While payor rate data is publicly available, it is notoriously difficult to gather, process, and interpret,” said Jeff Carmichael, XiFin senior vice president, engineering. “XiFin’s Monitor offers a unique solution, enabling users to efficiently compare payor rates and trends across the industry. The addition of Humana and Blue Shield of California is a major step forward in our goal of providing healthcare organizations with the comprehensive data they need to thrive.”

Expansion with Humana and BSCA

The Payor Rate Transparency Monitor has expanded its capabilities with the addition of Humana and BSCA, processing over 718,000 files and analyzing 7 terabytes of data — 700 times more files than previous payors like UHC, Aetna, and Cigna had over the past 10 months combined. This tool is now available for laboratories and diagnostics providers, as well as pharmacies, making it an invaluable resource for healthcare providers looking to refine reimbursement strategies and maintain a competitive edge.

In addition to this expanded reach, the Monitor now boasts faster load times, responsive formatting for mobile and desktop devices, and the option to select specific payors for targeted analysis. These enhancements streamline tracking payor behavior, supporting more effective decision-making in contract negotiations and revenue cycle management.

Comprehensive Resources in the XiFin Payor Intelligence Hub

In addition to the release of the Payor Rate Transparency Monitor 2.0, XiFin has launched the Payor Intelligence Hub — a curated collection of resources designed to inform market access and payor relations strategies that enable providers to stay current, compliant, and competitive with constantly changing payor behaviors. The hub includes the latest billing news, white papers, blogs, and webinars, offering healthcare organizations a full suite of resources to fortify their market access strategies for success.

The hub features a monthly Spotlight on Payor Behavior; this month showcases a summary extracted from XiFin data of reason code denial rates for Medicare and Medicare Advantage plans. The data reveals marked shifts in the reason codes Medicare Advantage plans use to deny claims, even as the reason code usage for Medicare denials remains relatively consistent across years. For instance, those attributed to non-covered items shifted from primarily CO-50 in 2019 to CO-96 in 2024.

“Payors are continuously adapting their utilization management practices, which can make it difficult for providers to be paid for the work they do; it is essential for healthcare providers to stay informed, especially when it comes to denials practices,” said XiFin senior director, revenue and payor optimization Clarisa Blattner. “The Payor Intelligence Hub is designed to deliver timely and actionable insights, empowering healthcare organizations to stay ahead of these changes.”

The hub also features the newly released 2024 Payor Denial Impact Report, which provides an in-depth analysis of millions of claims from XiFin customers. The report highlights key denial trends and appeal strategies, giving healthcare organizations the information they need to reduce denials, improve cash collections, and improve financial outcomes.

XiFin is committed to further expanding the Payor Intelligence Hub, including the Payor Rate Transparency Monitor and the Pharmacy Payor Rate Transparency Monitor, with plans to add more payors and data types in the coming months. As payors continue to evolve and adapt, XiFin’s tools provide healthcare providers with the resources needed to stay competitive and achieve financial sustainability.

About XiFin

XiFin is a healthcare information technology company that empowers healthcare organizations to navigate an increasingly complex and evolving healthcare landscape. Through innovative AI-enabled technologies and services, we deliver operational efficiency, interoperability, and simplicity. The company’s laboratory information system, revenue cycle management, clinical workflow enablement, and patient engagement solutions enable organizations to achieve stronger finances, streamline operations, and develop industry-leading business strategies. XiFin solutions deliver THE POWER TO DO GOOD™ so that healthcare organizations can do more good for more patients. Visit www.XiFin.com, follow XiFin on LinkedIn, or subscribe to the XiFin blog to learn more.

Fonte: Business Wire

If you liked this article and want to stay up to date with news from InnovationOpenLab.com subscribe to ours Free newsletter.

Related news

Last News

How Austria is making its AI ecosystem grow

Always keeping an European perspective, Austria has developed a thriving AI ecosystem that now can attract talents and companies from other countries

Sparkle and Telsy test Quantum Key Distribution in practice

Successfully completing a Proof of Concept implementation in Athens, the two Italian companies prove that QKD can be easily implemented also in pre-existing…

Dronus gets a strategic investment by Eni Next

Eni's VC company invest in the Italian drone company to develop new solutions for industrial plants monitoring

Technology Reply wins the 2024 Oracle Partner Awards - Europe South Innovation

Oracle recognizes Technology Reply’s ability to develop and deliver pioneering solutions through partnering with Oracle

Most read

Panjaya.ai Unveils BodyTalk: World’s first AI-Powered Dubbing Platform,…

Panjaya.ai, led by former Apple TV and Vimeo executives, has launched BodyTalk, the first AI-driven translation platform designed to address a common…

Glean Named an AI Cool Vendor in the 2024 Gartner Cool Vendors for Digital…

Work AI leader Glean today announced it has been named a Cool Vendor in the 2024 Cool Vendors in Digital Workplace Applications1 report by Gartner, Inc.…

Spoofing Detection Technologies Market Research Report 2024-2034: Growth…

The "Spoofing Detection Technologies Market - A Global and Regional Analysis: Focus on Application, Solution Type, and Region - Analysis and Forecast,…

ISG to Assess Procurement Services Worldwide

$III #CategoryManagementServices--Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, has launched…

Newsletter signup

Join our mailing list to get weekly updates delivered to your inbox.

Sign me up!