Navigation Links
The United States Patent and Trademark Office Grants TransUnion Patent for Healthcare Financing Method
Date:3/31/2008

Helps defray the cost of treating the uninsured through automated

eligibility by matching more patients to entitlement and assistance

programs

CHICAGO, March 31 /PRNewswire/ -- TransUnion announced today that its healthcare financing method was granted United States Patent No. 7,333,937 on Feb. 19, 2008 for the Healthcare Revenue Cycle Platform (HRCP). HRCP is an ASP-based technology platform that determines, in real time, patient eligibility for financial assistance at point of registration.

This business method patent utilizes healthcare financial aid information associated with federal, state, and local assistance plans to help appropriately determine both patient eligibility for assistance and patient responsibility for costs related to medical treatment.

"This patent solidifies TransUnion as a market leader in marrying information and technology to address a critical business issue our healthcare customers are facing in this financially challenging market -- escalating bad debt," said Rod Bazzani, executive vice president of healthcare for TransUnion. "Our proprietary business method allows hospitals to utilize an automated and sophisticated rules-based decision engine to ensure their patients are best served while ensuring all necessary guidelines to maximize financial aid are met."

With this newly patented technology, hospitals can utilize a web-based system to electronically input patient data at the time of service that is cross-referenced with credit-sourced information to determine patient eligibility for all appropriate benefit sources, including hospital-specific charity programs. The software queries federal and state programs including Medicaid, Victims of Crime, Emtala Section 1011 Reimbursement, Ryan White Program as well as grant, foundation, and charity care programs, all of which offer healthcare financial assistance for qualifying applicants.

The patented technology instantaneously performs calculations based on patient information and eligibility requirements to pre-qualify applicants and their family members for optimal financial assistance programs. Patient demographic information is pre-populated on all enrollment forms; ready for immediate printing, signature and submission.

Additional benefits of HRCP include:

-- Verifies patient identity, insurance eligibility, and inaccuracies

from self reported data.

-- Identifies opportunities to assist patients at the time of service due

to front-end integration within registration system.

-- Tracks, stores and provides audit-ready documentation of charity care.

-- Determines patient status for each hospital visit to eliminate the

possibility of providing charity care to those who no longer qualify

while easily validating those that are still eligible.

-- Reduces the potential for quarterly/year-end financial surprises and

provides hospitals the ability to modify charity policies during the

year to stay compliant with federal, state, and local guidelines,

specifically the new IRS required Form 990, Schedule H.

-- Pursues multiple financial assistance opportunities concurrently,

providing significant labor savings to hospitals; reducing staff time

spent gathering data and filling out forms.

About TransUnion

As a global leader in credit and information management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering comprehensive data and advanced analytics and decisioning. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion employs more than 2,600 employees in more than 25 countries on five continents. http://www.transunion.com/business


'/>"/>
SOURCE TransUnion
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Statement in Response to SEIU United Healthcare Workers - Wests (UHW-W) Thursday Media Event
2. Study: Dramatic rise in hepatitis C-related deaths in the United States
3. AUDIO from Medialink and UnitedHealthcare: Medicare Open Enrollment Ends March 31
4. New report highlights variations in approaches to thoracic surgery in the United Kingdom and Ireland
5. Providence Service Corporation and UnitedHealth Group Affiliate, OptumHealth Behavioral Solutions, Enter Into Strategic Relationship Agreement
6. United Mitochondrial Disease Foundation Statement on Vaccines, Autism and Mitochondrial Disease
7. Religious Leaders Join The Balm In Gilead to Support The Big Coffee Project, to Help Fight HIV/AIDS in the United States and in Africa
8. United States and Mexico Renew Agreement on Cooperation in Health
9. Bi-Partisan Members of United States Senate Formally Raise Concerns About Proposed Cuts to Medicares Home Oxygen Benefit
10. Hospital Groups United in Opposition to Charity Care Cuts
11. Justice Department Requires Divestiture in UnitedHealth Groups Acquisition of Sierra Health Services
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/4/2016)... ... May 04, 2016 , ... Over 40 athletic trainer’s (ATs) and athletic ... for the annual “Hike to Harrisburg” advocacy day. The annual lobbying effort is ... lobby Group. The goal for the day was to educate the elected legislators ...
(Date:5/4/2016)... ... May 04, 2016 , ... Vasont Systems, a ... Integrator (VUI) extension supports the latest release of Adobe FrameMaker, Release 2015. The ... the process of creating, editing and storing XML. , The VUI ...
(Date:5/3/2016)... , ... May 04, 2016 , ... ... cancer. That message is reaching the global health community through expanding activities that ... burden of cancer in the resource-limited countries. , In support of ...
(Date:5/3/2016)... ... May 03, 2016 , ... ... Journal, patients report dissatisfaction with numerous issues related to medical care in the ... billing, and poor bedside manner from hospital staff. Commenting on this article, the ...
(Date:5/3/2016)... ... May 03, 2016 , ... Sue Desmond-Hellmann, chief executive ... 2016 to stretch the limits of human possibility in her keynote address at Georgia ... the Georgia Dome. , Drawing on her rich experience as a scientist, physician and ...
Breaking Medicine News(10 mins):
(Date:5/3/2016)... , May 3, 2016  While you may be familiar with watching a film or ... also known as ultra-high-definition or 8MP in the Medical Industry.  Ampronix  is a renowned authorized ... innovative technology. Photo - http://photos.prnewswire.com/prnh/20160502/362730 ... ... ...
(Date:5/3/2016)... , May 3, 2016   Diplomat Pharmacy, Inc. (NYSE: DPLO) announced today that it is ... a video of two patients who tell their personal story and encourage those at risk ... Meet Jacque: Hepatitis C ... ... Diplomat Specialty Pharmacy (PRNewsFoto/Diplomat Pharmacy, Inc.) ...
(Date:5/3/2016)... May 3, 2016 According to ... Share, Development, Growth and Demand Forecast to 2022 - ... Strength (High Field, Very High Field, Low to Mid ... and Neck, Spine, Musculoskeletal, Vascular, Breast, Pelvic and Abdomen, ... resonance imaging (MRI) market was valued at $5,351.7 million ...
Breaking Medicine Technology: