Purchase to Improve Data Quality and Transaction Accuracy in Healthcare Revenue Cycle Management Industry
TransUnion announced it acquired MedData LLC. The Charlotte-based company provides healthcare insurance information and data solutions for hospitals, physician practices and major healthcare insurance companies. Financial terms of the deal were not disclosed.
“The healthcare industry is on the brink of an evolution in terms of the effective use and application of patient data, analytics and decisioning technologies in revenue cycle management,” said Milton Silva-Craig, executive vice president of TransUnion’s healthcare vertical. “The combination of TransUnion’s and MedData’s unique and complementary data sets and solutions positions us to be a driving force in this change, improving the quality and accuracy of transactions while helping ‘bend’ the national healthcare cost curve.”
MedData marks TransUnion’s second acquisition within the healthcare arena over the last two years. In 2007, TransUnion acquired Fort Lauderdale-based ADSR, a web-based solution that addressed the growing self-pay and charity care population.
MedData, founded in 1997, is the healthcare division of AGDATA, L.P. MedData was formed to apply and use state-of-the-art database and real-time transaction processing technology for the healthcare industry. MedData blends database management expertise with web-based technology to automate critical healthcare transactions, enabling physician offices, hospitals, and billing services to more quickly and accurately complete transactions sent to and received from the nation’s payers.
Source: TransUnion Press Release
BIIA Comment: This acquisition manifests a trend of consumer information companies (Experian and FICO) moving into verticals such as health care information management.