Denials and underpayments capabilities will make TransUnion Healthcare a holistic solution for revenue recovery
TransUnion (NYSE: TRU) has announced an agreement to acquire Rubixis, an innovative healthcare revenue cycle solutions company that helps providers maximize reimbursement from insurance payers. Rubixis brings specialized expertise in the management of denials and underpayments, two significant pain points for healthcare providers.
“The addition of Rubixis builds on TransUnion Healthcare’s market-leading Healthcare Revenue ProtectionSM solutions in line with our growth strategy of extending into attractive markets,” said Jim Peck, TransUnion’s president and chief executive officer. “Rubixis’ revenue cycle optimization capabilities, particularly around denials and underpayments, round out TransUnion Healthcare’s solutions and positions us as the leader in post-discharge revenue recovery for healthcare providers seeking to maximize reimbursement and prevent revenue leakage.”
The healthcare industry continues to struggle with claims denial write-offs, which have climbed consistently over the past decade. Denial write-off adjustments average 3 to 4% of net revenue, which equates to $262 billion in initially denied claims for healthcare providers annually.1, 2
Rubixis helps healthcare providers prevent these losses with the goal of collecting the correct amount due from payers as quickly as possible and at the lowest cost. By offering a robust software platform that leverages analytics, workflow tools and/or complementary accounts receivable outsourcing services, Rubixis helps healthcare providers collect reimbursement effectively and efficiently.
“Rubixis brings impressive solutions that are a great complement to TransUnion Healthcare’s existing portfolio,” said Dave Wojczynski, president of TransUnion Healthcare. “Together, we will offer powerful data, analytics and capabilities that will benefit providers by helping to maximize reimbursement and ultimately improve the patient financial experience.”
TransUnion Healthcare’s Revenue Protection solutions help hospitals prevent revenue leakage by engaging patients early, ensuring that their earned revenue gets paid, and optimizing their collection strategies. The company works with more than 1,800 hospitals and health systems and has protected over $4.4 billion in net revenue and cash to date for its entire client base. With the acquisition of Rubixis, in addition to the recent purchase of Healthcare Payment Specialists, TransUnion now offers the most comprehensive revenue cycle management solution set in the market – including identity verification, insurance eligibility, patient payment estimation, insurance coverage discovery, Medicare bad debt and DSH (disproportionate share hospital), transfer DRG (diagnosis related groups), denials, underpayments and financial clearance.
“Joining TransUnion is a great fit for Rubixis,” said Manoj Sharma, chief executive officer of Rubixis. “We look forward to working together to deliver even greater innovation and solutions for our customers.”
About Rubixis: Founded in 2012 and based in Fremont, California, Rubixis offers healthcare providers an integrated revenue cycle analytical platform and accounts receivable outsourcing services to maximize reimbursement, reduce accounts receivable days and lower costs.
About TransUnion Healthcare
TransUnion Healthcare, a wholly owned subsidiary of credit and information management company TransUnion, is a trusted provider of Healthcare Revenue Protection™ solutions for maximizing reimbursement, improving patient engagement, and preventing revenue leakage. We deliver this by leveraging our data assets, market-leading revenue cycle management technologies, and deep insights into consumer financial behavior and reimbursement methodologies to help providers reduce uncompensated care and maximize revenue with one of the most effective revenue protection solutions on the market today. www.transunionhealthcare.com