TransUnion has acquired Auditz LLC, a healthcare services organization that uses sophisticated proprietary technology to help healthcare providers identify and recover payments.
“As TransUnion continues to invest in strategic growth, healthcare is a key area of focus,” said Jim Peck, TransUnion’s president and chief executive officer. “We see enormous opportunity to leverage data, technology and analytics to help healthcare providers manage revenue cycles, and Auditz is a great addition to our portfolio that will build upon our strong healthcare business.”
TransUnion will broaden its product line to offer Auditz’ innovative Transfer DRG (diagnosis related groups) solution, which optimizes the recovery of costs associated with Medicare patient transfer — a process that results in the underpayment of millions of dollars per year to care providers. In addition, Auditz has developed innovative search algorithms and a broad network of payer connectivity that help providers find insurance benefit information to boost care reimbursement, complementing TransUnion’s eScan product.
“Auditz brings great new capabilities to our healthcare business that will benefit our customers and further enhance our competitive strength and market value proposition,” said Gerry McCarthy, president of TransUnion Healthcare. “Together, we can offer even more powerful solutions to help healthcare providers identify and recover payments.”
Auditz customers will gain access to TransUnion solutions designed to empower healthcare providers to make more informed decisions at the point of service, including ClearIQ patient access products such as:
- Identity Verification, which helps verify patient identity;
- Insurance Eligibility, which helps confirm insurance benefits electronically;
- Patient Payment Estimation, which helps hospitals provide accurate estimates to patients; and
- Propensity to Pay, which helps determine patient ability and likelihood to pay.
“We’re excited to join forces with an industry leader like TransUnion, and look forward to continuing to deliver great solutions to help our customers uncover reimbursement,” said Mark McVeety, president of Auditz.
About: Auditz is an industry leading healthcare services organization that focuses on helping healthcare providers solve complex patient access, revenue cycle and reimbursement issues. Auditz leverages proprietary technology to identify and recover incremental reimbursement opportunities which exceed current industry best practices. Auditz specializes in very specific areas where traditional solutions have lacked the sophistication and scope to unlock full value. Source: Marketwired.com