Medical Business Applications Changes Name To XiFin In Preparation For The Commercial Launch Of Its Next Generation Billing And Claims Management System

Medical Business Applications, an Applications Service Provider of financial management systems for healthcare service providers, Thursday announced its name change in preparation for the commercial launch of its next generation billing and claims management system.

The new name, XiFin, and corporate identity reflect the company’s focus on leading edge technology for managing complex financial transactions in healthcare.

XiFin was founded in 1997 to develop systems that enable high transaction volume healthcare providers to regain control of back-office financial operations. Through Intelligent Automation, where all steps in a process are automatically integrated through conditional processing, XiFin systems delivers substantial gains through reductions in labor, errors, and processing time, while ensuring compliance with all regulations and standards. XiFin’s initial offering is a complete Accounts Receivable Management system designed for high volume clinical laboratories. The system is in Beta testing with American Medical Laboratories (AML) and will be commercially released during the second quarter of this year.

“XiFin has brought a fresh and needed approach to billing and claims management. We believe this partnership will greatly enhance our service to our clients, while improving operational efficiency, and profitability,” said Jack Bergstrom, executive vice president, AML. “Through this relationship I anticipate completely new capabilities from our billing system that will provide important competitive advantages through improved patient care and better information.”

“We’re looking forward to working with AML to further validate our technology and value proposition,” said Lale White, CEO of XiFin. “Our new name and identity is more consistent with our e-health strategy and communicates our focus on financial management solutions using sophisticated database and Internet technology.”

AML is a rapidly growing, national reference laboratory that is a leader in developing integrated clinical laboratory solutions for hospital networks, managed care organizations, and regional laboratories. AML was founded in 1959 and is the third largest esoteric testing laboratory in the United States. The company is committed to developing partnerships with hospitals and community laboratory networks that are seeking creative solutions to reduce laboratory costs, enhance customer service and improve information technology services.

AML has a long-standing tradition of developing leading-edge technology and esoteric testing services for their customers. In addition to analytical services, AML has developed core competencies in innovative information technology solutions and superior customer service that bring greater value to healthcare providers. AML committed to be the industry leader in customer service and the premier esoteric reference laboratory for hospitals, regional reference laboratories, physician office practices and managed care organizations.

XiFin Inc. is an Application Service Provider (ASP) focused on the financial management needs of clinical laboratories. XiFin’s initial offering is a fully compliant, Web-based order entry, accounts receivable and financial management system and service. The system is designed to completely automate the claims and billing process, while maximizing submission of correct and complete claims, ensure process compliance, and provide management tools that dramatically simplify the processing of denied claims as well as gain better insight to financial operations.

About XiFin

XiFin is an innovative software and services company dedicated to optimizing the economics of healthcare. The company’s cloud-based technology and business intelligence platform links healthcare stakeholders in the delivery and reimbursement of care, optimizing both business and patient outcomes and providing informed, streamlined diagnostic and business decision-making. To learn more, visit www.xifin.com, or follow XiFin on Twitter at www.twitter.com/#!/XiFin.