NEW YORK (360Dx) – Xifin today announced a partnership with PriorAuthNow to integrate each other's platforms to streamline the prior authorization process for diagnostic laboratories.
Under the deal, PriorAuthNow's platform will be integrated with Xifin RPM 9's intelligent automation. Prior authorization has been a time-consuming and manual process, Xifin said, and the advent of molecular diagnostics and next-generation sequencing-based tests have further exacerbated the situation. Each year $31 billion is spent on prior authorizations, and 40 percent of prior authorizations are abandoned due to complex approval processes, it added.
Combining each firm's platforms will streamline the process, impacting labs' bottom lines "through improved reimbursement rates and decreased administrative labor costs for complex diagnostic tests," Xifin said.
PriorAuthNow connects healthcare providers' electronic health records systems with insurers, giving them one place where all prior authorizations are submitted, monitored, and completed. Meantime, Xifin RPM 9 incorporates the prior authorization information needed for reimbursement.