MUNCIE, Ind. – Ontario Systems, a leading software provider to the healthcare revenue cycle management (RCM), accounts receivable management (ARM) and government (GOV) markets, has announced a new partnership with TransUnion to provide cloud-based revenue cycle solutions to its healthcare provider customers. Driven by the exception-based segmentation of Ontario Systems Artiva HC™ technology, the newly-enhanced Artiva HCx™ solution will now provide healthcare finance leaders with financial data and scoring from TransUnion to increase efficiency and optimize revenue cycle processes.
Ontario Systems customers will now have access to TransUnion’s Financial Aid solution, an efficient automated solution for determining presumptive charity care based on credit and third-party data and analytics. Presumptive eligibility, as defined within the IRS 501(r) regulations, now gives healthcare providers the ability to use third-party information to determine financial assistance eligibility for patients who do not provide documented proof of their financial status. TransUnion Financial Aid meets this requirement by delivering highly reliable household income and size estimates based on both credit and non-credit public records data sources, and persisting data used to support charity decisions for reporting and to satisfy 501(r) audit requirements.
“By utilizing key financial data points and scoring, providers can now identify potential financial assistance options for patients and work their accounts more intelligently to optimize their billing processes,” said Shawn Yates, Ontario Systems Director of Product Management. “This saves time and money, and frees healthcare providers to focus on other strategic revenue cycle opportunities. By partnering with TransUnion, our customers can align their business office staffs’ efforts to work the right accounts at the right time, and achieve their revenue targets.”
TransUnion Financial Aid will help Ontario Systems customers reduce bad debt by returning value-added financial metrics that allow collectors to identify which self-pay accounts can be segmented for collections and which accounts can be presumptively qualified for charity care.
“This partnership allows providers to maximize their revenue cycle management efficiency and reduce bad debt. By delivering TransUnion’s data through Ontario Systems’ powerful exception-based software, we can improve the overall patient experience by providing a consistent and unbiased method for identifying which patients are eligible for financial assistance,” said John Yount, vice president of product for TransUnion Healthcare.
To learn more about the TransUnion and Ontario Systems partnership, visit http://www.ontariosystems.com/about/partners.
About TransUnion Healthcare
TransUnion Healthcare, a wholly owned subsidiary of credit and information management company TransUnion, is a trusted provider of revenue cycle management solutions for maximizing reimbursement, improving patient engagement, and ultimately increasing the effectiveness of the healthcare system. We deliver this by leveraging our data assets, market-leading revenue cycle management technologies, and deep insights into consumer financial behavior, to help providers reduce uncompensated care and improve cash flow with one of the most patient-centric revenue cycle management systems on the market today. www.transunionhealthcare.com
About TransUnion (NYSE:TRU)
Information is a powerful thing. At TransUnion, we realize that. We are dedicated to finding innovative ways information can be used to help individuals make better and smarter decisions. We help uncover unique stories, trends and insights behind each data point, using historical information as well as alternative data sources. This allows a variety of markets and businesses to better manage risk and consumers to better manage their credit, personal information and identity. Today, TransUnion has a global presence in more than 30 countries and a leading presence in several international markets across North America, Africa, Latin America and Asia. Through the power of information, TransUnion is working to build stronger economies and families and safer communities worldwide.
We call this Information for Good. http://www.transunion.com/business
About Ontario Systems
Ontario Systems, LLC is a leading provider of software and solutions to the revenue cycle management (RCM), accounts receivable management (ARM), and government markets. Ontario Systems’ robust software portfolio includes product brands such as Artiva HCx™, Artiva RM™, Contact Savvy®, and RevQ®. The company’s customers include five of the nation’s 15 largest hospital networks, eight of the 10 largest ARM companies and more than one hundred federal, state and municipal government agencies in the U.S. Established in 1980, Ontario Systems is headquartered in Muncie, Indiana.