TransUnion Adds Insurance Verification to Healthcare RCM Offering

TransUnion today announced that it has added Insurance Verification to its Healthcare Revenue Cycle Platform (HRCP) solution.

The new capability enables hospitals and healthcare providers to validate in real-time or batch mode whether a patient has private or public insurance coverage as well as the patient’s co-payment, deductible responsibilities and benefit limits, depending on the payer. Based on the information returned, healthcare providers can verify a patient’s insurance coverage details and set up a point-of-service collection or payment plan as needed. In addition to providing a full perspective of a patient’s ability to pay, the automated system allows registrars to receive insurance information, including payer, co-payment amounts and deductibles, into the patient record to streamline a healthcare provider’s registration and patient accounting processes.

"CEOs at U.S. hospitals are facing tremendous financial challenges, including tracking and applying for payments from federal assistance programs, reducing bad debt and addressing uncompensated care," said Marty Callahan, vice president of healthcare for TransUnion. "The challenge is compounded as patients adopt healthcare savings accounts and insurance coverage plans become more complex and layered, making it increasingly difficult for hospitals to determine benefits and patient costs. By combining insurance verification with our automated Healthcare Revenue Cycle Platform, healthcare providers can effectively address this challenge by quickly validating a patient’s available coverage, their benefit eligibility and out of pocket costs at the point of service."

TransUnion has partnered with Affiliated Computer Services’ EDI gateway eligibility engine to provide the insurance verification capability. It integrates with all major national and regional insurance providers as well as Medicare and Medicaid and is HIPAA compliant and CORE certified.