TransUnion Expands Offerings With Acquisition of eScan Data Systems
CHICAGO, IL--(Marketwired - Sep 4, 2013) - TransUnion announced today it has acquired eScan Data Systems Inc., an Austin-based company with a market-leading technology that helps hospitals and healthcare systems reduce uncompensated care costs by identifying patient coverage after services were provided.
eScan will be integrated into TransUnion's healthcare business and will extend its solutions for managing uncompensated care from pre-screening through post-service and doubles the number of hospitals that deploy a TransUnion Healthcare reimbursement solution. Financial terms of the deal were not disclosed.
"Hospitals and healthcare providers already face more than $40 billion annually in uncompensated care costs. With the healthcare market undergoing one of the most significant transformations in recent history, it will be more important than ever for providers to accurately and effectively manage patient eligibility, collections and recovery," said Milton Silva-Craig, president of TransUnion Healthcare. "eScan complements TransUnion Healthcare's front-end platform with a proven post-service system that identifies eligibility coverage that is not and, in some cases, cannot be captured on the front-end. With the addition of eScan, we have a more compelling, innovative and integrated business model."
eScan's automated platform provides a superior return on investment to a hospital's traditional manual processes, which are typically inefficient, labor intensive and error prone. Its market-leading technology will integrate with TransUnion Healthcare's newly released ClearIQ platform -- an exception-based, automated patient access solution designed to provide integrated patient demographic verification, insurance eligibility and benefits verification, payment estimation and financial assessment.
Combined, these offerings will provide greater assurances to both patients and healthcare providers that the most accurate data and coverage is available to help alleviate growing uncompensated care costs.
"By uniting the capabilities of these two companies, we can further innovate and better address our clients' growing issues related to uncompensated care," said John Wester, CEO of eScan Data Systems, Inc. "The core eScan solution provides a superior ROI for our customers. In addition, we have developed additional applications that will further enhance the solutions offered by the combined organization. We're excited about the improved value our customers will see when it is combined with TransUnion's market leading front-end solutions."
For more information, please visit: www.transunionhealthcare.com.
As a global leader in information and risk 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 high quality data, and integrating advanced analytics and enhanced decision-making capabilities. 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 reaches businesses and consumers in 33 countries around the world on five continents. www.transunion.com/business
TransUnion Healthcare, a wholly owned subsidiary of credit and information management company TransUnion, empowers providers with Intelligence in an Instant® by providing data and analytics at the point of need. TransUnion Healthcare offers a series of data solutions designed to provide greater ease of use, accuracy and transparency in the revenue cycle process thereby assisting providers in lowering their uncompensated care. www.transunionhealthcare.com
About eScan Data Systems
eScan is a privately held company based in Austin, Texas, whose software and services are licensed to over 700 hospital and physician group partners in 40+ states. Since its inception in 2002, eScan has discovered and delivered coverage on over 990,000 uncompensated care accounts, converting them to Medicaid, Medicare and Commercial payers representing nearly $3 billion dollars in charges. The eScan proprietary error-correcting eligibility search engine operates behind all existing hospital processes, and has delivered over $450 million in payments to its clients. www.escands.com