TransUnion Broadens Healthcare Solutions with Acquisition of Auditz
Auditz’ innovative Transfer DRG solution and proprietary technology bring new capabilities to TransUnion to help healthcare providers manage revenue cycles
TransUnion (NYSE: TRU), a leading global information solutions provider, has acquired Auditz LLC, a healthcare services organization that uses sophisticated proprietary technology to help healthcare providers identify and recover payments.
“As TransUnion continues to invest in strategic growth, healthcare is a key area of focus,” said Jim Peck, TransUnion’s president and chief executive officer. “We see enormous opportunity to leverage data, technology and analytics to help healthcare providers manage revenue cycles, and Auditz is a great addition to our portfolio that will build upon our strong healthcare business.”
TransUnion will broaden its product line to offer Auditz’ innovative Transfer DRG (diagnosis related groups) solution, which optimizes the recovery of costs associated with Medicare patient transfer—a process that results in the underpayment of millions of dollars per year to care providers. In addition, Auditz has developed innovative search algorithms and a broad network of payer connectivity that help providers find insurance benefit information to boost care reimbursement, complementing TransUnion’s eScan product.
“Auditz brings great new capabilities to our healthcare business that will benefit our customers and further enhance our competitive strength and market value proposition,” said Gerry McCarthy, president of TransUnion Healthcare. “Together, we can offer even more powerful solutions to help healthcare providers identify and recover payments.”
Auditz customers will gain access to TransUnion solutions designed to empower healthcare providers to make more informed decisions at the point of service, including ClearIQ patient access products such as:
- Identity Verification, which helps verify patient identity;
- Insurance Eligibility, which helps confirm insurance benefits electronically;
- Patient Payment Estimation, which helps hospitals provide accurate estimates to patients; and
- Propensity to Pay, which helps determine patient ability and likelihood to pay.
“We’re excited to join forces with an industry leader like TransUnion, and look forward to continuing to deliver great solutions to help our customers uncover reimbursement,” said Mark McVeety, president of Auditz.
TransUnion's industry leading revenue cycle management solutions have discovered $7.8 billion in uncompensated care charges, which has resulted in more than $1 billion in reimbursement to its clients. Combining the solutions of TransUnion and Auditz will yield additional recoveries for both companies’ customers. More information about TransUnion Healthcare’s solutions can be found at www.transunionhealthcare.com.
TransUnion was advised on the transaction by RBC Capital Markets.
About TransUnion (NYSE:TRU)
Information is a powerful thing. At TransUnion, we realize that. We are dedicated to finding innovative ways information can be used to help individuals make better and smarter decisions. We help uncover unique stories, trends and insights behind each data point, using historical information as well as alternative data sources. This allows a variety of markets and businesses to better manage risk and consumers to better manage their credit, personal information and identity. Today, TransUnion has a global presence in more than 30 countries and a leading presence in several international markets across North America, Africa, Latin America and Asia. Through the power of information, TransUnion is working to build stronger economies and families and safer communities worldwide.
We call this Information for GoodSM. http://www.transunion.com/business
Auditz is an industry leading healthcare services organization that focuses on helping healthcare providers solve complex patient access, revenue cycle and reimbursement issues. Auditz leverages proprietary technology to identify and recover incremental reimbursement opportunities which exceed current industry best practices. Auditz specializes in very specific areas where traditional solutions have lacked the sophistication and scope to unlock full value. http://www.auditz.com