Healthcare revenue cycle company experienced 60% revenue growth over three years driven by delivering solutions with high customer impact
SAN DIEGO–(BUSINESS WIRE)–XIFIN today announced it has been named to the Inc. 5000, Inc. Magazine’s annual ranking of the 5,000 fastest-growing private companies in America. During a period of unprecedented challenges for the healthcare industry and a significant shift towards telehealth, XIFIN proved able to not only meet the technological demands of diagnostic providers facing enormous testing volume surges, but also grew its revenue by 60% in just three years. As a twelve-time honoree, XIFIN joins an exclusive list of the nation’s most successful private companies, including Intuit, Zappos, Oracle and Microsoft.
With more than 20 years’ experience, XIFIN provides cloud-based revenue cycle management (RCM), healthcare informatics, and laboratory information systems (LIS) that help diagnostic providers better manage their business. These best-in-class solutions and services allow healthcare organizations to streamline and optimize the billing process, improve claims management, and provide leaders with greater visibility into business operations. In addition to playing an instrumental role in enabling customers to realize greater efficiency and generate faster reimbursements when processing COVID-19 and other diagnostic tests, the company recently announced its expansion to the East Coast and entrance into the radiology RCM services segment through the acquisition of Computerized Management Services.
“We are honored to be recognized for the twelfth time by Inc. 5000 during undoubtedly the most trying year for our nation’s healthcare system. Diagnostic laboratories faced testing demands never seen before, while health systems were thrust into a virtual world where remote monitoring and digital health services were not only championed, but required. This accolade reflects our team’s unwavering dedication to support healthcare organizations across the country at a crucial time,” said Lâle White, CEO of XIFIN. “The role of diagnostics has never been more critical or more evident, and we at XIFIN strive to provide innovative technology and high-quality services that help providers accomplish their day-to-day work efficiently and engage with patients more effectively.”
XIFIN’s growth over the past three years is accentuated by the company’s ability to support diagnostic and ancillary service providers through the COVID-19 pandemic by demonstrating an awareness of current challenges. The Lab Volume Index (LVI), XIFIN’s laboratory test tracker that launched last spring, showed that at the height of COVID-19 in 2020, testing volumes reached 250% above baseline figures. This type of data analysis not only exemplifies the instrumental role that labs play in collecting reliable diagnostic data to aid in the ongoing fight against new COVID-19 variants, but signifies that continued reporting remains paramount to support public health, safety, and education. In addition, the company has remained responsive to customers’ needs through its ability to provide digital alternatives that have increased patient engagement.
Companies that made this year’s list have grown vastly in the last five years, a noteworthy accomplishment given that the U.S. economy grew by only 15% during this period. Not only have the companies been very competitive within their markets, but those within the software industry have experienced $13B in revenue and contributed more than 49,000 jobs over the past three years.
“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” says Scott Omelianuk, editor-in-chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”
Complete results of the 2021 Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region and other criteria can be found here.
XIFIN is a healthcare information technology company that leverages diagnostic information to improve the quality and economics of healthcare. The company’s cloud-based technology facilitates connectivity and workflow automation for accessing and sharing clinical and financial diagnostic data, linking healthcare stakeholders in the delivery and reimbursement of care. The company provides cross-specialty industry analytics including its Lab Volume Index which provides a measurement of laboratory testing volumes across the US. Its synthesis of diagnostic data enables comparisons of hospital, genetics, pathology, routine lab, COVID-19 and antibody testing across key segments. To learn more, visit www.XIFIN.com, follow XIFIN on Twitter and LinkedIn, or subscribe to the XIFIN blog.