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TransUnion's healthcare revenue cycle platform -- Revenue Manager(SM) --is a leader in several key patient access and revenue cycle areas, includingpatient registration, time of service collections, risk scoring, front-endfinancial counseling and entitlement and charity program qualification.Benchmark has enjoyed significant success in the revenue cycle market with aWeb-based solution set that drives workflow in both patient access and thebusiness office, allowing hospitals to maintain performance through powerfulbusiness intelligence, dashboards and real-time productivity monitoringcoupled with a comprehensive alerting system.
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"Together, our offerings ensure that a hospital protects its patientrevenue and optimizes every opportunity to qualify patients for eligibleprograms," said Mike Snitman, vice president of TransUnion's healthcare group."Hospitals face daily challenges to keep up with the enormous volume ofinformation and complex processes related to charity and uncompensated carefor patients. Offering our platform alongside Benchmark's solutions willenable hospitals to provide their patients with optimal financial advice andensure that their team is working as efficiently as possible, on the righttasks."
Both Benchmark and TransUnion's solutions can be implemented and fullyoperational for customers in just six weeks. Tyson McDowell, CEO ofBenchmark, commented on the timeframe: "The fact that we both feel stronglyabout implementing and returning on the customer's investment quicklyunderscores why this partnership will be a success. TransUnion shares ourview that healthcare professionals simply don't have the time or resources tosuffer through long implementation processes and huge learning curves. Withour workflow and productivity advantages, and TransUnion's revenue cycleplatform and analytic capabilities, a hospital will see substantial revenueimprovement in a very short period of time. We think that's just whathospitals need today."
TransUnion's Revenue Manager instantaneously verifies patient identity andself-reported information at registration, and performs calculations based onpatient information and eligibility requirements to pre-qualify applicants andtheir family members for optimal financial assistance programs. Patientdemographic information is pre-populated on all enrollment forms; ready forimmediate printing, signature and submission.
Additional benefits of TransUnion Revenue Manager include:
-- Verifies patient identity, insurance eligibility, and inaccuracies fromself reported data.
-- Identifies opportunities to assist patients at the time of servicethrough front-end integration within registration system.
-- Tracks, stores and provides audit-ready documentation of charity care.
-- Determines patient financial status for each hospital visit toeliminate the possibility of providing charity care to those who no longerqualify while easily validating those that are still eligible.
-- Reduces the potential for quarterly/year-end financial surprises andprovides hospitals with the ability to modify charity policies throughout theyear to stay compliant with federal, state, and local guidelines, specificallythe new IRS required Form 990, Schedule H.
-- Pursues multiple financial assistance opportunities concurrently,providing significant labor savings to hospitals; reducing staff time spentgathering data and filling out forms.
Benchmark he
