TransUnion Healthcare released a new scoring model for its Financial Assessment solution that accesses patient financial data from public records to offer healthcare providers an enhanced solution to deliver more charity care or payment assistance options to patients.
The new model uses non-credit, public record-based data sources to identify patients who may be eligible for charity care or payment assistance. By not relying solely on personal credit data sources, the solution typically covers more patients living in poverty. The solution delivers a charity score, verified patient demographic data and financial estimates, including household size, income and percent of Federal Poverty Level.
Using a scale from one to 1000, the scoring model assigns a numeric value to each account based on the evaluation of a set of criteria used to define that patient’s financial condition. The higher the charity score, the less likely the patient qualifies for financial assistance, resulting in an objective charity decision. The score is based on a customizable rule set that is defined from the analysis of a hospital’s historical charity care approvals.
About: TransUnion Healthcare, a wholly owned subsidiary of credit and information management company TransUnion, empowers providers with Intelligence in an Instant® by providing data and analytics at the point of need. TransUnion offers a series of data solutions designed to provide greater ease of use, accuracy and transparency in the revenue cycle process thereby assisting providers in lowering their uncompensated care. www.transunionhealthcare.com