FRANKLIN, Tenn., June 23, 2016 /PRNewswire/ -- Experian Health, the healthcare industry leader for automating, integrating and transforming the patient payment and care experience, today announced the launch of several innovative new products and services that will enhance the breadth and depth of its revenue cycle offerings. These award-winning solutions will enable healthcare professionals to establish more efficient workflows, remain compliant in an ever-changing environment and redefine front-office operations.
"Healthcare organizations must continually adapt and evolve, as the healthcare industry exists in a state of constant flux," said Scott Bagwell, president of Experian Health. "By committing ourselves to developing innovative solutions, we are able to help transform the industry, as well as empower healthcare providers to stay ahead of the game and improve their bottom line."
New Experian Health solutions include:
Denial Workflow Manager integrates the power of analytics, workflow tools and actionable-claim status detail to identify root causes of claim denials and efficiently manage them to improve overall revenue cycle performance, increasing cash flow and net revenue and reducing denial rates.
Compliance Manager is the first comprehensive vendor compliance management solution that helps healthcare organizations better understand detailed information about their collection agencies, including:
- Licensing compliance: provides analysis and ongoing monitoring of agency licensing requirements
- Reputational compliance: monitors litigation and complaints against each vendor
- Compliance dashboard and score: provides robust reporting and dashboard capabilities to monitor agency compliance and measure agency compliance risk using a patent-pending compliance risk score
Additionally, the service provides unmatched data and analytics, as well as a dedicated consultant assigned to each account through the life of the contract.
Patient Financial Clearance allows providers to confidently determine the appropriate financial pathway for every patient in real time. This new solution helps meet 501(r) regulatory requirements, reduce accounts receivable days and increase point-of-service collections by:
- Identifying patients who qualify for Medicaid, charity and other financial assistance programs and patients eligible for auto-enroll
- Assessing a patient's likelihood to pay medical bills to drive financial counseling discussions
- Calculating an optimal payment plan amount based on a patient's unique financial situation
- Matching patients to a trusted funding lender or servicer
Experian Health will discuss these innovative new solutions, as well as hosting educational sessions and product demonstrations, at the 2016 HFMA National Institute (HFMA ANI), June 26 to 29 in Las Vegas, Nev., Booth #1115. Attendees can check out Experian Health's HFMA ANI 2016 Web page for the latest schedule of events.
About Experian Health
Experian Health's revenue cycle management, identity management, patient engagement and population wellness solutions help more than 3,060 hospitals and 10,000 other healthcare organizations representing more than 350,000 providers better understand their financial performance, make informed business decisions, enhance their bottom line, protect patient identities, and strengthen the patient payment and care experience. Leveraging a powerful revenue cycle and patient access heritage, advanced data insights and a patented Passport eCare NEXT® Touchless Processing™ system, Experian Health enables healthcare providers, labs, pharmacies and other risk-bearing entities to automate, integrate and innovate the patient payment and care experience. For more information about Experian Health, visit http://www.experianhealth.com/.
We are the leading global information services company, providing data and analytical tools to our clients around the world. We help businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. We also help people to check their credit report and credit score and protect against identity theft. In 2015, we were named one of the "World's Most Innovative Companies" by Forbes magazine.
We employ approximately 17,000 people in 37 countries and our corporate headquarters are in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended March 31, 2016, was US$4.6 billion.
Experian and the Experian marks used herein are trademarks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.
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SOURCE Experian Health