Expanded Relationships with Sonic Healthcare and Caris Life Sciences Help Drive 19% Revenue Growth in 2024
XiFin Reports Double-Digit Revenue Growth, Positions for Future with Debut of XiFin Empower RCM at HIMSS25
Audrey Chang
202-489-8634
a.chang@togorun.com
XiFin, Inc., a leading provider of innovative artificial intelligence (AI)-enabled healthcare revenue cycle management (RCM) solutions that deliver operational efficiency, increased productivity, and workflow automation, announced that the company achieved 19% year-over-year growth in revenue in 2024. This significant growth was driven by a burgeoning genetic testing market, increases in vaccination activity, and expansion of services with existing and new customers, including global lab leader Sonic Healthcare and Caris Life Sciences. Building on this momentum, the company will showcase its XiFin Empower platform at HIMSS25, unveiling its latest payor response-focused embedded AI capabilities.
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XiFin unveils its XiFin Empower platform, a powerful healthcare technology ecosystem designed to enhance efficiency by combining automation, data analytics, and AI. (Graphic: Business Wire)
Keeping pace with global growth in the over $10 billion genetics testing market, XiFin saw 22.8% year-over-year growth in this segment. Additionally, despite declining vaccination rates nationwide, XiFin saw an over 30% increase in vaccines that flowed through its pharmacy solutions.
Forging the Future: Strategic Enterprise Engagements Driving Growth
Marking a shift in its approach to billing, Sonic Healthcare selected XiFin to provide billing management services. In 2024, Clinical Pathology Laboratories, Sonic’s largest lab division, became the third Sonic division to successfully migrate to XiFin Empower RCM, with expansion to additional divisions possible in 2025. As the third-largest laboratory in the US, Sonic Healthcare USA’s decision underscores its focus on organic growth in the US.
Caris Life Sciences, a leading next-generation AI TechBio company and precision medicine pioneer, contracted with XiFin for revenue cycle management and went live on the system in 2024. Caris selected XiFin as a knowledgeable revenue cycle solution with strong industry expertise and payor relations skills, and a scalable, compliant solution to provide crucial visibility and control over its revenue operations.
"XiFin enables operational efficiencies and enhances revenue cycle productivity,” said Bobby Hill, SVP, Head of Health Economics, Policy and Reimbursement at Caris. “We look forward to collaborating with XiFin as Caris continues to deliver innovative precision medicine solutions that aim to improve the human condition.”
“At XiFin, we are proud to be at the forefront of transforming the healthcare revenue cycle management landscape. The growth we've achieved in 2024 is a testament to our team’s hard work and dedication, and the trust our customers like Sonic Healthcare and Caris place in our solutions,” said Lâle White, Executive Chair and CEO at XiFin. “Our ongoing success stems from our unwavering commitment to innovation, expertise, and advocacy—enhancing operational efficiency and delivering actionable insights that empower healthcare organizations. With a growing number of transactions, covered lives, and health plans flowing through our solutions, we are poised for continued growth in 2025 and beyond.”
XiFin Empower: Tap into a frictionless, adaptive, and interoperable ecosystem
In recognition of its expanding suite of products and ongoing innovation, XiFin is unveiling XiFin Empower as the new name for its platform. Unification under the XiFin Empower umbrella signals the enhanced interoperability and cross-product synergies that are inherent in its solutions.
XiFin Empower is a powerful healthcare technology infrastructure that combines automation, data analytics, and AI to facilitate end-to-end connectivity and workflow optimization. With real-time data exchange and built-in interoperability between multiple diagnostic and pharmacy systems and data sources, it connects patients, providers, and payors, ultimately streamlining operations, achieving stronger finances, and enhancing the patient and provider experience.
"As we continue to grow and evolve, we’re excited to introduce XiFin Empower as the new name for our product portfolio," said White. "The XiFin Empower brand reinforces our commitment to our mission of empowering organizations to do good. It reflects our innovative work to advance interoperability, AI-driven optimization and automation, and world-class business intelligence.”
XiFin will showcase its latest advancements, including XiFin Empower RCM, at booth #4407 at the upcoming HIMSS25 conference from March 3-6 in Las Vegas, NV.
Key Achievements from XiFin’s Past 12 Months Demonstrate Innovation, Expertise, and Advocacy
- Named #1 provider of outsourced RCM solutions and services across hospitals, outpatient and diagnostic laboratories, and radiology and diagnostic imaging facilities by Black Book Market Research LLC for the 6th consecutive year
- Secured HITRUST r2 Certification for a second consecutive two-year term
- Celebrated 25th anniversary in 2024 amidst national recognition of executive team members
- Launched Payor Intelligence Hub, and an enhanced Payor Rate Transparency Monitor (PRTM) that added Pharmacy codes and two additional payors (Blue Shield of California and Humana), providing invaluable data analytics and insights into the evolving healthcare landscape
- Named “Top 5 Most Trusted RCM Company of 2024” by Insights Care
- Named “2024 Top 10 RCM Solution Provider” by Healthcare Business Outlook
- Received “2024 Best in Business Award” in RCM category from Modern Healthcare
- Recognized with the Pharmacy 500 award as one of 500 pharmacy supply chain businesses and associations that significantly impacted dispensing pharmacies in the US over the past year
- Awarded DSN Retail Excellence Award (REX) for Technology and Automation for 3rd consecutive year
About XiFin
XiFin is a healthcare information technology company that empowers healthcare organizations to navigate an increasingly complex and evolving healthcare landscape. Leveraging AI-enabled technologies and services, the XiFin Empower platform delivers enhanced operational efficiency, increased productivity and workflow automation. Our comprehensive set of solutions—spanning revenue cycle management, clinical workflow enablement, laboratory information systems, and patient engagement—provides healthcare organizations with the tools they need to achieve financial strength, optimize operations, and implement industry-leading strategies. XiFin Empower 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.
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