CHICAGO, IL--(Marketwired - September 21, 2016) - TransUnion (NYSE: TRU), a leading global information solutions provider, has acquired RTech (Healthcare Revenue Technologies, Inc), a technology-driven healthcare services company that offers post-service eligibility solutions designed to maximize reimbursements and reduce uncompensated care costs for hospitals and healthcare systems of all sizes.
TransUnion is investing in building its healthcare business because of the enormous opportunity to leverage data, technology and analytics to help healthcare providers maximize reimbursement. In June, TransUnion announced the acquisition of Auditz, LLC, another leading healthcare services organization.
"The right data and technology can offer great insights to help healthcare providers maximize reimbursement and cash flow -- enabling them to put more focus on the patient," said Jim Peck, TransUnion's president and chief executive officer. "Joining forces with RTech and Auditz adds powerful new capabilities to our already-strong healthcare business, consistent with our long-term strategy."
RTech is a market leader in the Northeast region of the United States and will augment TransUnion's healthcare solutions in three key ways:
- RTech's innovative Revenue Protection solution offers a more holistic view and analysis of hospital accounts receivables, allowing earlier detection and prevention of bad debt.
- RTech has developed unique new solutions for academic medical centers, as evidenced by their strong presence in that market.
- RTech's proprietary coverage discovery technology is a great complement to TransUnion's eScan product, as well as Auditz' solution, and TransUnion will integrate all three into a common coverage discovery offering to maximize benefits to clients.
"RTech has impressive solutions and a great track record of helping healthcare providers maximize reimbursement," said Gerry McCarthy, president of TransUnion Healthcare. "Revenue cycle management is a growing opportunity for healthcare providers, and we're excited to bring RTech onboard to enhance the solutions we offer our clients."
RTech will broaden its product line to offer many TransUnion solutions designed to empower healthcare providers to make smarter decisions at the point of service, including ClearIQ patient access products such as:
- Identity Verification, which helps verify patient identity;
- Insurance Eligibility, which helps confirm insurance benefits electronically;
- Patient Payment Estimation, which helps hospitals provide accurate estimates to patients; and
- Propensity to Pay, which helps determine patient ability and likelihood to pay.
"Joining TransUnion is an exciting milestone for RTech," said Todd Langer, president, RTech. "We have built our business on a foundation of innovative solutions for our clients, and look forward to delivering even more value with our combined solutions."
TransUnion's industry leading revenue cycle management solutions have resulted in nearly $1.3 billion in reimbursement to its clients. Combining the solutions of TransUnion, RTech and Auditz will yield additional recoveries for healthcare providers.
About TransUnion Healthcare
TransUnion Healthcare, Inc, a wholly owned subsidiary of credit and information management company TransUnion, empowers providers with Intelligence in an Instant® by providing data and analytics at the point of need. TransUnion offers a series of data solutions designed to provide greater ease of use, accuracy and transparency in the revenue cycle process thereby assisting providers in lowering their uncompensated care. TransUnion Healthcare was recently rated the highest performing vendor by the KLAS 2014 Patient Access Report for its patient payment estimation and propensity to pay solutions. 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
RTech uses innovative proprietary technology to help healthcare providers protect revenue and cash. Founded in 1999 by a seasoned team of hospital industry executives, the company uses technology and a systematic, structured process to help healthcare providers uncover hard-to-find, billable revenue and implement long-term improvements that generate future value.