Contact Information: Contact Clifton M. O'Neal E-mail: Telephone: 312 985 2540 Contact Dave Blumberg Email: Telephone: 312 985 3059
TransUnion Acquires Healthcare Insurance Information Company MedData
Purchase to Improve Data Quality and Transaction Accuracy in Healthcare Revenue Cycle Management Industry
| Source: TransUnion
CHICAGO, IL--(Marketwire - January 4, 2010) - TransUnion today announced it acquired MedData
LLC. The Charlotte-based company provides healthcare insurance
information and data solutions for hospitals, physician practices and
major healthcare insurance companies. Financial terms of the deal were not
disclosed.
"The healthcare industry is on the brink of an evolution in terms of the
effective use and application of patient data, analytics and decisioning technologies in revenue cycle management,"
said Milton Silva-Craig, executive vice president of TransUnion's
healthcare vertical. "The combination of TransUnion's and MedData's unique
and complementary data sets and solutions positions us to be a driving
force in this change, improving the quality and accuracy of transactions
while helping 'bend' the national healthcare cost curve."
Effectively managing insurance eligibility and self-pay patients is a primary
directive for many healthcare executives. Today, it is estimated that more
than one-third of all insurance eligibility transactions have data quality
issues. This creates a scenario for significant downstream human
interaction and costs. By using TransUnion's data and analytics in real
time to enhance MedData's transaction pipeline at key touch points, it can
create significant improvements in data quality and accuracy in the overall
process. Further, integrated with TransUnion's patented self-pay and
charity care solution -- Revenue Manager -- the combined assets have the potential to create
significant cost savings, improve point of service collections and reduce
bad debt.
"Throughout the financial, insurance, and collections industries,
TransUnion has consistently proven the value they bring in actionable data
and analytics," said Steve Purdy, president of MedData. "The combination
of MedData's strategic healthcare pipeline and diverse customer base,
coupled with TransUnion's rich data and expertise, will greatly expand the
footprint for both organizations across the spectrum in revenue cycle
management."
MedData marks TransUnion's second acquisition within the healthcare arena
over the last two years. In 2007, TransUnion acquired Fort
Lauderdale-based ADSR, a web-based solution that addressed the growing
self-pay and charity care population.
About MedData
MedData, founded in 1997, is the healthcare division of AGDATA, L.P.
MedData was formed to apply and use state-of-the-art database and real-time
transaction processing technology for the healthcare industry. MedData
blends database management expertise with web-based technology to automate
critical healthcare transactions, enabling physician offices, hospitals,
and billing services to more quickly and accurately complete transactions
sent to and received from the nation's payers. MedData is headquartered
Charlotte, N.C. with offices in California and Colorado.
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 associates
in more than 25 countries on five continents.
www.transunion.com/healthcare
https://www.transunion.com/healthcare/clientsupport/tuRevMgrGeneralDemo.page
Graphics and/or photographs to accompany this release can be obtained by
members of the media by contacting Cliff O'Neal (coneal@transunion.com) at
312-985-2540 or Dave Blumberg (dblumbe@transunion.com) at 312-985-3059.