LAS VEGAS, June 24 /PRNewswire/ -- TransUnion announced today a newly
enhanced version of its patented healthcare revenue cycle workflow and
financial analytics product suite -- Revenue Manager(SM) -- at the HFMA's
Annual National Institute (ANI) Healthcare Financing Conference. Revenue
Manager is an ASP-based technology platform that determines in real time,
patient eligibility for financial assistance at the time of registration.
Additionally, Revenue Manager assists healthcare providers in verifying
patient identity to improve patient safety from potential identity theft,
qualifies patient eligibility for financial assistance or insurance
benefits at time of service, helps in collecting payments through
prioritizing accounts by a patient's ability to pay and provides fact-based
payment planning.
"With recent studies showing a 60 percent surge in the underinsured to
25 million in the past five years, hospitals need solutions such as Revenue
Manager to better assess a patient's financial options for their portion of
hospital costs," said Rod Bazzani, executive vice president of healthcare
for TransUnion. "TransUnion's patented healthcare financing methodology
also improves patient ID verification by cutting application time while
increasing hospital staff efficiencies by streamlining back-end collection
processes."
The newly enhanced Revenue Manager expands benchmark reporting
capabilities on staff productivity, charity reporting for IRS Form 990
Schedule H and patient metrics. It also includes a comprehensive
family-based decisioning tool, auto-assignment of patient files based on
daily staffing and census needs, and a robust workflow tool to better
assist hospital management and staff with follow up task reminders.
Improved efficiencies will be one result of the platform's new auto
assignment functionality, which assigns patient files to the appropriate
hospital staff at the time of service. This is based on the hospital's
specific workflow guidelines which can be easily modified to support daily
staffing changes.
Also, an improved work list tool automates previously manual processes
such as following up with certain patients or providing reminders about
other revenue related tasks. Additionally, hospital management will be able
to pull reports that measure staff productivity, such as highlighting the
number of files employees review throughout a day.
In addition to the efficiencies gained, several enhancements were made
in the financial assistance qualifying modules. The household view feature
enables hospital administrators to assess an entire family's eligibility
for a variety of financial assistance programs concurrently. The platform
also ranks the eligible programs for each patient according to maximum
health benefits available.
"We are particularly excited about the family grouping enhancements
because Revenue Manager now makes it easier for hospitals to automatically
qualify all eligible family members for specific programs," said Marty
Callahan, vice president of Healthcare Solutions for TransUnion. "For
instance, if a mother comes to an emergency room for care, a hospital may
also qualify her entire family for assistance through the quick Revenue
Manager-led interview process. Though the hospital is only treating one
person, the automated qualifying process allows them to assist other family
members in need."
Another major Revenue Manager enhancement is expanded reporting
capabilities, which now includes more than 20 standard reports that report
at the department, staff, and patient levels. The reports cover key
performance metrics such as a hospital's own charity program approvals,
public assistance program enrollments, staff productivity and collection
estimates. Custom reports can be easily set up to tailor to a hospital's
specific recurring reporting needs.
"The expanded reporting capability is particularly beneficial because
hospitals receive thousands of repeat visitors each year. For instance, in
one large Southwestern hospital utilizing TransUnion's healthcare
offerings, self- pay patients accounted for approximately 154,000 annual
registrations and more than 86,000 of those registrations were repeat
visitors," added Callahan.
Revenue Manager was created based on a business method patent (United
States Patent No. 7,333,937) granted in February 2008. The patent utilizes
healthcare financial aid information associated with federal, state, and
local assistance plans to help appropriately determine both patient
eligibility for assistance and patient responsibility for costs related to
medical treatment.
The patented technology instantaneously performs calculations based on
patient information and eligibility requirements to pre-qualify applicants
and their family members for optimal financial assistance programs. Patient
demographic information is pre-populated on all enrollment forms; ready for
immediate printing, signature and submission.
TransUnion Revenue Manager is available to healthcare organizations of
all sizes in the United States. For more information, stop by Booth #1138
at the HFMA's Annual National Institute (ANI) Healthcare Financing
Conference, contact your local TransUnion sales representative or visit the
company's Web site at http://www.transunion.com/healthcare.
About TransUnion
As a global leader in credit and information management, TransUnion
creates advantages for millions of people around the world by gathering,
analyzing and delivering information. For businesses, TransUnion helps
improve efficiency, manage risk, reduce costs and increase revenue by
delivering comprehensive data and advanced analytics and decisioning. For
consumers, TransUnion provides the tools, resources and education to help
manage their credit health and achieve their financial goals. Through these
and other efforts, TransUnion is working to build stronger economies
worldwide. Founded in 1968 and headquartered in Chicago, TransUnion employs
more than 2,600 employees in more than 25 countries on five continents.
http://www.transunion.com/healthcare
SOURCE TransUnion
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Related links:
http://www.transunion.com
CONTACT:
Dave Blumberg of TransUnion, +1-312-972-6646,
dblumbe@transunion.com
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