Chicago - October 18, 2012 - The Healthcare Financial Management Association (HFMA) today announced that, following rigorous review, TransUnion Healthcare has once again consistently met the "Peer Reviewed by HFMA®" standard for five product lines. HFMA recently reviewed TransUnion Healthcare as part of the evaluation process necessary to maintain TransUnion's HFMA Peer Reviewed designation.

The recently reviewed products include:

  • ID/Address Verification-Automatically verifies patient demographic and identity information, and helps prevent identity theft with Red Flag alerts. Patient self-reported data is compared against TransUnion's databases of consumer contact and financial information and any discrepancy is instantly highlighted for correction at the point-of-service, helping to increase registration accuracy and ensure a more efficient revenue recovery process.
  • Insurance Eligibility-Provides electronic verification of patients' insurance eligibility and benefit levels for third party coverage via extensive payer connectivity covering 97% of covered lives nationwide. Increases point-of-service collections, decreases claims denials, and avoids costly manual verification calls.
  • ClearQuote-Analyzes historical charges, payer contract terms and patient benefit levels to create a defendable estimate of what patients are likely to owe for services provided. Having an estimate they can trust motivates patients to make a payment up-front.
  • Patient Financial Summary-Utilizes patient financial risk profiles built from TransUnion credit data and other external data sets to determine the patients' ability to pay and his or her likelihood to qualify for financial assistance. With the use of the patient's financial profile, hospital staff can confidently ask for payment up-front or assign patients to a financial counselor-thus improving the likelihood of obtaining payment for services.
  • Revenue Manager Interview Wizard-Determines the financial assistance or charity care programs that best fit patients' needs through the use of an objective, automated interview process. By enrolling patients in financial assistance or charity care programs, hospitals reduce uncompensated care and appropriately account for charity care.

"TransUnion Healthcare's ability to provide intelligence in an instant® has been further enhanced with our recent acquisition of Financial Healthcare Systems' highly rated patient payment estimation solution-ClearQuote™," said Milton Silva-Craig, executive vice president of TransUnion Healthcare. "We believe that our HFMA Peer Reviewed designation also is enriched with this acquisition as we now have even more tools to create even smarter solutions that may change the way healthcare is delivered."

HFMA's Peer Review process is designed to provide healthcare financial managers with an objective third-party evaluation of products and services used in the healthcare workplace. The rigorous, eleven-step process includes a panel review made up of current customers, prospects who have not made a purchase, and industry experts. Peer Review status of the product or service and its performance claims are based on effectiveness, quality and usability, price, value, and customer and technical support.

"We're pleased to have TransUnion Healthcare renew their HFMA Peer Reviewed designation," says HFMA President and CEO Joseph J. Fifer, FHFMA, CPA. "The HFMA Peer Review process assures our members, through a rigorous evaluation, that the reviewed product or service meets an objective third-party evaluation that assesses overall effectiveness, quality, and value." 

About HFMA

The Healthcare Financial Management Association (HFMA) provides the resources healthcare organizations need to achieve sound fiscal health in order to provide excellent patient care. With more than 39,000 members, HFMA is the nation's leading membership organization of healthcare finance executives and leaders. HFMA helps its members achieve results by providing education, analysis, and guidance, and creating practical tools and solutions that optimize financial management. The organization is a respected and innovative thought leader on top trends and challenges facing the healthcare finance industry. From addressing capital access to improved patient care to technology advancement, HFMA is an indispensable resource on healthcare finance issues.  

Contact HFMA

Jay Keltner
Director of Marketing
(708) 492-3329  

About TransUnion Healthcare

TransUnion Healthcare, a wholly owned subsidiary of credit and information management company TransUnion, empowers providers and payers with intelligence in an instant by providing data and analytics at the point of need. In the provider market, TransUnion offers a series of data and decisioning solutions designed to move critical decision making to the front-end of the revenue cycle process. In the payer market, TransUnion offers healthcare analytics and reporting solutions to help payers meet their reporting needs, control costs and improve the overall health of their members.

Contact TransUnion Healthcare

David Blumberg
(312) 985-3059