Identify appropriate funding sources for patients
Focus staff on accounts with the highest probability to pay
Keep more accounts in-house, minimizing collection vendor contingency fees
Optimize collections and assist with 501(r) reporting requirements
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:
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:
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:
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:
"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
Our solutions are powered by best-in-class data and analytics
500+ million consumer financial files managed
90,000+ data sources, including financial institutions and public records
More than 50 years of experience in analyzing and predicting consumer payment behavior
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.
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Revenue Integrity in an Era of Uncertainty
Clarifying Rule Changes Regarding Accounting for Medicare Bad Debts