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Patient Financial Clearance

Get a complete picture of a patient’s ability and willingness to pay in order to improve collection efforts

Improve patients’ financial experiences and optimize collections by assessing their unique financial situations

Having a complete view of a patient’s identity and financial situation helps you determine their ability and willingness to pay, or likelihood to qualify for financial assistance. Serve your patients better throughout the revenue cycle with TransUnion Healthcare’s Patient Financial Clearance solutions.

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Patient Identity Verification

Improve patient registration accuracy and prevent medical identity theft with identity verification prior to or at the point-of-service. Our Identity Verification solution also helps reduce claim denials by improving the accuracy and completeness of patient demographic information through:

  • Multiple data sources
  • Enhanced matching logic
  • Red Flag fraud alerts
  • Additional contact information
  • Actionable status and warning messages
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Financial Aid

Reduce bad debt using an objective and consistent method for determining presumptive charity care. This solution can also help providers more effectively identify charity eligibility, streamline the financial counseling process, and comply with federal 501(r) reporting requirements by leveraging credit and non-credit public records data. It delivers:

  • Estimated household size and income
  • Debt-to-income ratio
  • Percent of Federal Poverty Level
  • Residual income
  • Configurable financial aid status messages
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Propensity to Pay

Improve self-pay collections through the accurate classification of accounts into the optimal payment workflow based on the patient’s unique financial situation. Account information is condensed into a format that allows for quick decision-making during registration, financial counseling, billing and collections. This solution helps reduce the cost to collect by prioritizing which accounts are more likely to pay based on:

  • Available credit information
  • Propensity to pay scores
  • Configurable propensity to pay status messages
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Charity Screening

Increase reimbursements and improve the patient financial experience with automated financial assistance eligibility and enrollment. Identify appropriate funding sources for uninsured and underinsured patients with a web-based solution for financial counselors, including:

  • Patient interview tool
  • Estimated household size and income
  • Financial aid qualification program with auto-filled program applications
  • Centralized program repository
  • Audit-ready 501(r) compliance reporting

Testimonial

"TransUnion’s Revenue Manager solution lets us perform a general screening right off the bat to see what patients can qualify for, instead of assuming they’ll need to go straight to financial assistance. This solutions’s interview process helps optimize the time our counselors spend with patients. Since the forms are already pre-populated, we don’t have to ask the same questions over and over again. It also reduces the need to retype information, helping counselors work faster on applications. Ultimately, Revenue Manager saves staff and patient time by reducing redundant work."

Cari Benshoof, Corporate Director, Patient Access & Financial Counseling, Truman Medical Centers

"The Charity Screening solution has increased our confidence in making consistent and fair decisions about financial assistance eligibility for our patients. Having objective and reliable information enables us to make the right decisions in accordance with our charity policies."

Director of Financial Assistance, SouthEastern Health System

Quick Facts

Our solutions are powered by best-in-class data and analytics

Accreditations

ClearIQ
Revenue Manager

1 HFMA staff and volunteers determined that this product met specific criteria developed under the HFMA Peer Review process. HFMA does not endorse or guaranty the use of these products.

If you’re a consumer with questions or issues related to your personal credit report, drivers history report, disputes, fraud, identity theft, credit report freeze or credit monitoring services, please visit our Customer Support Center for assistance.

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