TransUnion Revenue ManagerSM Meets Healthcare Challenges Brought On By Today’s Economy with New Features
Seattle, June 15, 2009 – As the slumping economy continues to pressure healthcare organizations, more emphasis has been placed on streamlining costs and creating additional efficiencies while continuing to verify patient identity and insurance eligibility and to qualify those in need for charity care or self-pay discounts. To meet the demands of the changing healthcare landscape, TransUnion announced today new enhancements to its patented Revenue ManagerSM solution at the HFMA’s Annual National Institute (ANI) Healthcare Financing Conference.
“For more than 18 months the nation has endured a recession and the negative impact of the economic downturn on hospital balance sheets has been substantial,” said Rod Bazzani, executive vice president in TransUnion’s healthcare group. “TransUnion’s Revenue Manager platform was originally designed to pinpoint inaccurate identity information, to assist patients in qualifying for charity care or other discounts and to help hospital collect on the millions of dollars of bad debt they face each year. As the economy has worsened, TransUnion has made updates to Revenue Manager that should help hospital administrators be even more efficient in key patient qualification, verification and collection processes as their staffs confront higher numbers of uninsured and underinsured patients.”
Revenue Manager is an ASP-based technology platform that determines in real time, patient identity and eligibility for financial assistance at the time of registration. With TransUnion’s enhancements to Revenue Manager, healthcare administrators will now be able to do the following:
- Manage supporting documents for patient financial assistance applications efficiently and securely online. For instance, Revenue Manager now includes an online checklist of supporting documents, such as paystubs, bank statements or W2s, for financial assistance programs such as Medicaid, SCHIPS or charity.
- Verify patient assets more quickly as hospital staff can now access external links to Web sites such as Kelley Blue Book without ever leaving Revenue Manager.
- Automatically assign patient accounts to specific patient access and financial counseling employees.
- Gain more control of workflow by utilizing task indicators which give employees visual reminders of the status of tasks, such as Current, Past Due and Expired, helping users better monitor the status of tasks and act quickly to avoid missing deadlines.
- Better manage unpredictable workloads from day to day with the ability to reassign tasks between a group of employees based on predetermined factors, such as skill set or department. Examples of this include more management reports that help administrators evaluate workflow across the revenue cycle, including the “Task Productivity Report” and “Task Completion Time Report.”
- Facilitate the secure transfer of data and workflow by transferring files between authorized employees electronically throughout the revenue cycle.
“Another key benefit of the enhancements to Revenue Manager will be seen when the Federal Trade Commission begins enforcement of Red Flags Rules beginning in August of this year,” added Bazzani. “Revenue Manager addresses the Red Flag regulatory suggestion to validate patient’s identity documentation with external databases, particularly from credit reporting agencies to determine if that identity information has a fraud alert or other warning.”
TransUnion Revenue Manager is available to healthcare organizations of all sizes in the United States. For more information on Revenue Manager, stop by Booth #707 at the HFMA’s Annual National Institute (ANI) Healthcare Financing Conference or visit the company’s Web site at www.transunion.com/healthcare.