PR - Clarient Adopts XIFIN's Revenue Cycle Management Solution

"We believe XIFIN can provide Clarient with superior billing and AR functionality as well as management resources employed by the largest laboratories," noted James Agnello, CFO of Clarient. "Although bringing billing in-house was a natural progression for us, XIFIN’s model that combines managed services with state-of-the-art technology is expected to generate improved bottom-line performance as we manage the significant growth we are experiencing."

With an annualized growth rate of 62% year-to-year for the second quarter of 2007 and 12 consecutive quarters of sequential revenue growth, Clarient is emerging as a leader in the rapidly growing oncology genomic testing services market. The geographic expansion of Clarient’s client base, payer complexity, and service offerings bring new challenges that often outstrip the capabilities of traditional revenue cycle management solutions. Operational control is essential to successfully absorbing rapid growth, with effective financial management playing an indispensable supporting role. And, as a public company subject to Sarbanes-Oxley regulation, accurate, precise financial management is a requirement for Clarient.

"Molecular Oncology is one of the hottest opportunities in diagnostic testing, and we’re excited that we now support three of the leading companies in this space," commented Lale White, Executive Chairman and Founder of XIFIN. "It’s clear that these businesses are keying in on our unique financial management and control capabilities and see it as an important competitive advantage."