Revenue360® to Provide Access to TransUnion® Healthcare Revenue Cycle Solutions
Beaverton, OR (PRWEB) August 12, 2011
Provider Advantage NW, Inc., a national provider of automated, integrated real-time healthcare revenue cycle software announced that it had executed an agreement with TransUnion. This agreement enables Provider Advantage to incorporate a number of TransUnion Revenue Manager® services within the Revenue360 software solution.
Hospitals are seeing more patients with reduced or no health insurance coverage. A major issue for hospitals has become to quickly identify patients who will have difficulty paying their healthcare bills. With the TransUnion services, hospitals will be able to determine if the patient could benefit from a payment plan, might be eligible for Medicaid or could qualify for discounts under the hospital’s charity policies, all at or before the time of admission. With the current economic conditions, as patients lose or have their coverage reduced and as the Medicaid rolls expand under the provisions of the Patient Protection and Affordable Care Act of 2010; patients want to better understand their options for reimbursement.
Hospital staff use Revenue360 to collect accurate patient information at the point of admission. Most importantly, with just a few questions, Revenue360 is able to determine the patient’s out of pocket amount due before the hospital provides services. Once the amount due is known, by using Revenue360’s intelligent guidance and TransUnion’s Revenue Manager, the hospital can devise a payment plan with the patient, before hospital admission. This complements the other intelligent guidance functions of Revenue360. These include the ability to determine the patient’s eligibility for health plan coverage and to verify their address and other critical demographic data.
Patients say that knowing the amount due and settling on a payment plan at the time of admission leads to greater satisfaction and minimizes the financial pressures from hospitalization. Defining a payment plan at the time of service also leads to a better financial outcome for the hospital.
“We looked at a number of alternatives and found that TransUnion’s services and TransUnion’s commitment to healthcare were highly complementary with our customer’s vision for Revenue360,” said Edward L (Ted) Tomkins, President of Provider Advantage NW, Inc. “We are excited to begin work with TransUnion and add them as one of the services our customers can access through Revenue360.”
About Provider Advantage
Since 1991, Provider Advantage NW, Inc. has been providing innovative products and services to access real time healthcare data. Provider Advantage develops, markets, installs, and supports electronic data interchange (EDI) technologies that allow organizations to obtain, utilize, and manage insurance data to generate operational efficiencies and improve cash flow. Conforming to the needs of each customer, Provider Advantage’s products and services enable organizations to optimize revenues by establishing payment responsibility for healthcare services. For more information, contact Provider Advantage NW at (800) 337-5482 or visit http://www.provider-advantage.com or http://www.revenue360.net.
Revenue360® is a registered trademark of Provider Advantage NW Incorporated
TransUnion® and Revenue Manager® are trademarks of TransUnion, LLC.
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