XIFIN Acquires Computerized Management Services
Health IT company XIFIN has acquired Computerized Management Services (CMS), a provider of comprehensive revenue cycle management (RCM) services for hospital-based radiology groups and imaging centers. This acquisition builds on XIFIN’s RCM leadership and footprint across the diagnostic industry, providing healthcare organizations with specialized solutions and services that streamline and optimize the billing process, improve claims management, and provide leaders with greater business visibility.
As radiology departments and imaging centers across the US continue to experience high case volumes coupled with a multitude of obstacles including, declining reimbursements, client fee reductions and claims processing challenges, this deal provides radiology centers with robust healthcare technology services across diagnostic markets, including radiology, pathology, oncology, digital health, and laboratory. It also provides healthcare business leaders with the technology necessary to optimize operations.
This radiology RCM services deal underscores XIFIN’s commitment to providing the diagnostic health industry with deep expertise, advanced business intelligence and analytics critical for optimizing operations. The acquisition positions XIFIN firmly in the diagnostic imaging market, estimated to be over $100 billion in the US. It doubles the company’s total available market when combined with its existing diagnostics business.
“Like other parts of the diagnostic health market, radiology departments and imaging centers continue to experience expanding case volume amid declining payor reimbursements, client fee reductions and claims processing challenges,” said Lâle White, executive chair and CEO at XIFIN. “It’s critical that these organizations capitalize on technology and services from companies that truly understand their needs and have designed solutions to drive business results. This is especially important for hospital systems as they are increasingly consolidating vendors across the enterprise. CMS has established itself as a true partner for radiology organizations and aligns with XIFIN’s vision for providing customers with improved visibility, control and profitability. Together, we will provide healthcare organizations with a comprehensive diagnostic RCM solution.”
Considered a premier solution within radiology, CMS provides a comprehensive suite of outsourced financial services focused on maximizing radiology client revenue and cash flow streams. Its services leverage strong technology systems and analytics, including revenue cycle, strategic consulting, credentialing and coding. CMS has been led by CEO J. Daryl Favale, who assumed ownership of the company in 1990. Through this deal, CMS will become a subsidiary of XIFIN, and Favale will continue to lead CMS as general manager, XIFIN Radiology Services.
“XIFIN is well-respected in the RCM industry, with stellar domain expertise and sophisticated technology. I’m honored to join the XIFIN team,” said Favale. “With a shared company mission, I’m looking forward to building upon CMS’s comprehensive revenue management services by leveraging XIFIN’s business intelligence and data analytics capabilities for the benefit of existing and new clients. This deal is a welcomed growth opportunity for all stakeholders.”