Home Add to Favorite Contact Submit  
           26 April, 2024


    
Category:  Press » Health & Fitness

 

TransUnion Partners With CarePayment(R) to Help Healthcare Patients Pay Off Debt While Increasing Hospital Cash Flow

Popularity:
         Views: 1441
2008-08-13 06:27:04     
TransUnion

TransUnion announced today that users of its patented Revenue Manager(SM) healthcare solution will now have the option of using CarePayment(R), a program offered and managed by Aequitas Capital Management, Inc. that will be accessible through TransUnion's Revenue Manager. CarePayment improves hospital cash flow and receivable yields by providing patients with a non-discriminatory, interest-free, hospital-branded finance card for their patients.

"According to the American Hospital Association, the total amount of uncompensated care provided by hospitals was more than $31.2 billion in 2006. As patients take on even greater financial responsibility for healthcare costs, offering CarePayment's unique patient finance solution with TransUnion Revenue Manager makes absolute sense for both patients and hospitals," said Mike Snitman, vice president of TransUnion's healthcare group. "Our partnership ensures that patients have greater flexibility to pay off their debt, while helping hospitals significantly increase their cash flow."

Steve Wright, senior managing director of healthcare markets at Aequitas Capital, indicated that CarePayment is helping hospitals nationwide to achieve significant improvement in their overall patient-pay receivable portfolio yields.

"Hospitals offering CarePayment have experienced average net collection results of 40 percent compared to 20 percent or less prior to implementing the program," said Wright. "With our zero interest finance card, patients no longer have to use high-interest credit loans to pay for unexpected medical costs. In addition to improving their key financial metrics, our hospital clients are also enhancing their overall mission by helping patients avoid financial hardship."

Highlights of the fully-automated CarePayment finance card offered by Aequitas Capital include:

-- All patients are pre-approved (a valid social security number is required)

-- New account process is fully automated, thus no application forms, documentation or approval processes are required

-- Provides manageable monthly payments for consumers -- 4 percent of the highest balance or $25, whichever is greater

-- 0.00 percent interest program provides extended payment terms, accelerated principal reduction, better payment performance and greater patient and community acceptance

The CarePayment finance card is hospital branded and provides monthly statements, inbound/outbound customer service calls, payment processing, reporting, web access and late payment management. At those healthcare customers who opt to use the CarePayment program, a CarePayment finance card will be offered to patients during the TransUnion Revenue Manager pre-qualifying process.

TransUnion's Revenue Manager instantaneously verifies patient identity and self-reported information at registration, and performs calculations based on patient information and eligibility requirements to pre-qualify applicants and their family members for optimal financial assistance programs. Patient demographic information is pre-populated on all enrollment forms; ready for immediate printing, signature and submission.

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 more than 3,600 employees in more than 25 countries on five continents. http://www.transunion.com/healthcare

About Aequitas Capital Management, Inc.

Aequitas Capital is a value oriented alternative investment manager, offering a variety of private equity, mezzanine and secured debt investment strategies, focusing on lower middle market companies, as well as the healthcare and energy sectors. Aequitas Capital also provides financial advisory services through its subsidiaries, Aequitas Investment Management, LLC and Windswept Capital, LLC, including mergers and acquisitions, commercial finance solutions, restructuring, recapitalization and fund placement. For more information, visit Aequitas Capital on the web at http://www.aequitascapital.com or call 503-419-3500.

Specialized in: Transunion Partners - Carepayment - Healthcare - Hospital Cash Flow
URL: http://www.transunion.com
Print press release      Bookmark this page
Related Press releases 
Innovative Menopause Support Now Available in Hampton (Popularity: ): Hampton, UK - Menopause is a natural transition in a woman's life, yet it often comes with challenges that can affect daily life. Recognizing the need for supportive and effective solutions, a new initiative focusing on peri menopause treatment and menopause help in the UK has been launched. This groundbreaking service is available through Let's All Talk Menopause, an organization dedicated to providing comprehensive support and treatment options for women ...
Bethesda MD In-Home Care Agency Educates Readers On Mental Exercises (Popularity: ): Rockville, Maryland ( press.abc-directory.com ) January 22, 2019 - Comfort Home Care, a Bethesda Maryland in-home care agency, released a guide for people with elderly loved ones outlining mental exercises for strengthening memory and cognition. The Maryland in-home care agency recommends that family members help elderly loved ones incorporate these exercises into their regular routines to promote better mental health.As our loved ones age, their mental abilities often decline. Reduced ...
What are Former NFL Players Doing for a Healthier Mind, Body and Soul? Dr. Moalemi of Empire Physical Medicine & Pain Management Joins the Team (Popularity: ): Mount Laurel, NJ - May 31, 2016 -- The NFL Alumni's mission is to serve, assist and inform members to enrich their post-NFL lives. The NFL Alumni care for kids and care for their own, enabling the members to connect with each other and contribute to the community through charitable programs.NFL players endure several injuries during their tenure. Over time they develop bodily aches and pains. The Optimal Wellness Challenge ...
Stay Fit & Healthy Launches New Website for Fitness Products & Services in San Jose (Popularity: ): San Jose, California- April 22, 2016- Stay Fit & Healthy, fitness expert in San Jose, California and provider of high performance fitness products in San Jose is thrilled to announce the launch of its completely new website at stayfitandhealthymelaleuca.com.The revitalized new website welcomes visitors and everyone looking for high quality and reliable fitness products including vitamins, muscle shakes, weight management products and energy drinks in San Jose and surrounding areas. ...
Sami Direct launches Curcumin C3 Power Chewable Natural Immune Booster (Popularity: ): Bangalore - April 19, a healthy childhood largely depends on a good immune system. While there are several causes that lead to infections, building a strong defense system can help prevent and manage them. It is thus necessary to support the body with ideal nutrition that in turn boosts the immune system.One of nature’s greatest gift to mankind is turmeric. Its active constituents Curcuminoids, have been documented in ancient texts ...


Related Business 
A.I. Consulting, LLC (Popularity: ): Offers credit, collections, and cash flow solutions serving architectural, engineering and environmental practices. Improve cash flow, recover debt, and manage accounts receivable with our debt collection process.
Debt Help Spot (Popularity: ): Provides debt consolidation services for people looking for debt relief, debt settlement, debt elimination, debt negotiation or debt reduction. Our legal program will help you pay back your debts faster and more importantly at your convenience.
American Cash Flow Institute - Cash Flow Industry Training (Popularity: ): Offers cash flow training and tools to unlock financial opportunities in real estate, factoring, loans and business funding.
AIDS Healthcare Foundation (AHF) (Popularity: ): Largest community-based HIV/AIDS medical provider in the nation, serving over 5,000 Los Angeles patients regardless of ability to pay. Soon to serve over 7,500 Florida Medicaid patients through its Positive Healthcare Program.
American Finasco Can Help You Reduce Debt (Popularity: ): At American Finasco, we can help you reduce debt and free up cash flow. We don't believe in a one size fits all approach and work closely with your company to come up with a strategy that works for you.
WinForecast Professional (Popularity: ): Cash flow and financial forecasting software. Winforecast is a financial modeller providing integrated forecasts of profit and loss, balance sheet, cash flow, funds flow and ratios.
American Cash Flow Association (Popularity: ): Offers support in the cash flow industry by building relationships between brokers and funding sources.
Evergreen Cash Flow Solutions (Popularity: ): Works with industries to offer extra cash flow.
Cash Doctor, Inc. (Popularity: ): Cash Doctor™ is America's leading online healthcare market-place and suite of market-tools connecting healthcare & insurance professionals DIRECTLY to consumers. Cash Doctor™ takes the power of the internet and couples it with personal relationships to build what will be the start of a major shift in the healthcare REVOLUTION.
Kokilaben Dhirubhai Ambani Hospital (Popularity: ): A vision to strengthen healthcare in the communities we serve and empower patients to make informed choices, was at the genesis of Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute. Inaugurated in January 2009, the Hospital is a significant social initiative from Reliance Group. It is designed to raise India's global standing as a healthcare destination, with emphasis on excellence in clinical services, diagnostic facilities and research activities.