XiFin, a leader in the field of revenue cycle management and billing solutions, has announced several exciting developments. The company has recently secured a new round of growth capital to support its ongoing expansion and innovation. In addition, XiFin has welcomed Jeff Margolis, a renowned figure in healthcare information technology and a visionary futurist, to its Board of Directors.
The recent funding round highlights XiFin’s impressive growth trajectory, with a 19% increase in revenue compared to the previous year. This growth has been primarily driven by the widespread adoption of its flagship platform, XiFin Empower, which represents the next generation of revenue cycle management technology. The platform’s success lies in the ability to integrate automation, advanced data analytics, and artificial intelligence, providing healthcare providers with tools to streamline operations, optimize financial performance, and improve patient experiences.
The funding was led by a co-investment from Goldman Sachs External Investing Group, complemented by investments from Avista Healthcare Partners, which is the company’s majority investor, as well as other prominent institutional investors. While specific financial details of the investment were not disclosed, the significant backing from such high-profile investors demonstrates strong confidence in XiFin’s technology and strategic direction.
The momentum behind XiFin’s growth is also fueled by the strong demand for its innovative infrastructure. Built with a focus on real-time data exchange and interoperability, XiFin Empower connects a broad network of patients, healthcare providers, pharmaceutical companies, and payors across the entire healthcare ecosystem. This connectivity enables providers to expand their reach, leading to improved operational efficiency and enhanced clinical care. The comprehensive platform is designed not just to simplify workflows but to create a more integrated and responsive healthcare environment.
Adding to this momentum is the appointment of Jeff Margolis to XiFin’s Board. Margolis brings over 35 years of experience in healthcare information technology and has a remarkable track record of spearheading innovation in the industry. He has served as CEO of several healthcare technology companies and was a founding member of TriZetto, which developed the industry’s first vertical SaaS platform. TriZetto’s products became widely adopted and served over 130 million people, reflecting Margolis’s influence in shaping healthcare technology.
Currently, Margolis serves as a Senior Advisor to Blackstone and is involved with multiple companies as a board member. His work primarily centers around guiding strategic investments and fostering technological innovation within the healthcare and IT sectors. Alongside his professional pursuits, Margolis is also an author, having written insightful books about the state of healthcare.
KEY QUOTES:
“XiFin is uniquely positioned to capitalize on an inflection point in the industry, with AI presenting a once-in-a-generation opportunity to modernize RCM. With the support of our blue-chip investors, we have excellent financial flexibility to continue solving complex healthcare challenges and delivering industry-leading technology to more partners.”
Erik Sallee, Chief Financial Officer at XiFin
“Our growth capital commitment underscores a strong conviction in XiFin and the critical role its industry-leading technology plays in modernizing healthcare RCM. We believe the company has an impressive trajectory of value creation, both organically and through acquisitions, as providers turn to trusted platforms like XiFin Empower RCM to help navigate the care delivery life cycle.”
Marc Boheim, Head of Co-Investments at Goldman Sachs External Investing Group
“XiFin is supporting America’s healthcare providers—from hospitals and health systems, to pharmacies, ancillary and diagnostic services, to pharmaceutical companies—with solutions that unite a disconnected ecosystem, redefine RCM, and maintain focus on patient care. I am excited to work with XiFin’s management team and deep bench of industry experts to help providers capitalize on proprietary AI solutions that create tremendous efficiencies and benefit all stakeholders.”
Jeff Margolis
