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New investment to fuel growth trajectory and development of award-winning, next-gen XiFin® Empower platform
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Funding led by a co-investment from Goldman Sachs, alongside majority investor Avista Healthcare Partners and other leading institutional investors
XiFin, a leader in revenue cycle management (RCM) and billing solutions enhanced with embedded artificial intelligence (AI), announced a new growth capital investment, as well as the addition of health IT innovator and futurist Jeff Margolis to its Board of Directors. The funding round builds on XiFin’s 19% year-over-year growth, driven by client adoption of its flagship next-gen platform, XiFin® Empower, and successful execution of compelling business opportunities. The funding was led by a co-investment from Goldman Sachs External Investing Group, alongside investments from majority investor Avista Healthcare Partners and other leading institutional investors. Financial terms were not disclosed.
“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,” said Erik Sallee, Chief Financial Officer at XiFin.
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“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,” said Erik Sallee, Chief Financial Officer at XiFin. “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.”
The new growth investments follow strong demand for XiFin’s award-winning technology infrastructure that unifies automation, data analytics, and AI to streamline revenue cycle workflows, improve financial performance, and enhance the patient/provider experience. Built with real-time data exchange and interoperability at its core, XiFin Empower RCM connects patients, healthcare and pharmaceutical providers, and payors across the health ecosystem, extending medical providers’ reach for maximum operational and clinical impact.
“Our growth capital commitment underscores a strong conviction in XiFin and the critical role its industry-leading technology plays in modernizing healthcare RCM,” said Marc Boheim, Head of Co-Investments at Goldman Sachs External Investing Group. “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.”
Visionary Health IT Innovator Jeff Margolis Joins XiFin Board
XiFin’s Board will benefit from the addition of Jeff Margolis, a healthcare information technology veteran with extensive experience in AI innovation. He brings more than 35 years of expertise as an operating executive, having led as CEO multiple innovative healthcare technology companies, including founding TriZetto, the industry’s first vertical SaaS platform, with market-leading benefit plan administration solutions that serve over 130 million people. Margolis currently serves as a Senior Advisor to Blackstone, and board member for multiple companies, guiding strategic investments and advancing innovation in healthcare and IT. He is the author of several books evaluating the state of healthcare, including The Healthcare Cure and, most recently, Not Just in Sickness…but Also in Health.
“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,” Margolis said. “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.”