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Tool directly alerts found coverage, saves time, eliminates errors and reduces bad debt
Franklin, Tenn., June 09, 2016 — Experian Health, the healthcare industry leader for automating, integrating and innovating the revenue cycle, today announced that its Coverage Discovery® on demand tool is now integrated into Epic’s EMR environment. Coverage Discovery enables Experian Health clients to proactively reclassify uncompensated care by alerting them of patient coverage across both government and commercial payers using advanced analytics, and our proprietary coverage-optimization engine. Coverage Discovery on demand provides Epic clients with additional opportunities to find coverage early in the revenue cycle, avoiding the downstream complications and costs associated with missed insurance coverage.
“We are seeing an increasing number of providers pushing their discovery process closer to the encounter to reduce accounts receivable days, ensuring that additional processes such as authorization can be completed in a timely manner,” said Scott Bagwell, president of Experian Health. “By adding the on demand option, Experian Health clients can now run Coverage Discovery within their Epic workflow, which will help to reduce errors, save time and ultimately improve their revenue cycle. Every dollar found in our proactive, automated Coverage Discovery solution is a dollar that our clients are not spending chasing patients for payments, paying for expensive collection agencies or writing off as bad debt.”
Coverage Discovery provides significant results for more than 300 Experian Health clients with batch and on demand options across multiple EMR systems. In 2015, Coverage Discovery found previously unidentified coverage associated with more than $1.1 billion in charges.
“Coverage Discovery consistently delivers value to our organization. Since the June 2015 go-live of the batch product and the November 2015 go-live of the on demand product, Coverage Discovery has protected $2.3 million in reimbursement, $509,000 of which resulted from Coverage Discovery on demand queries for inpatient admissions over a two-month period,” said Murry Ford, director, revenue strategy, at Grady Health System. “Leveraging a solution like Coverage Discovery on demand enables us to proactively notify payers of an admission within minutes of the patient’s arrival, when previously those opportunities might have been missed.”
“The Coverage Discovery batch solution helps to ensure patient satisfaction by billing insurance appropriately while protecting revenue capture for our organization’s outpatient services,” added Ford.
For more information about Coverage Discovery, visit http://www.experian.com/healthcare/check-patient-insurance-lookup.html.
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About Experian Health
Experian Health’s revenue cycle management, identity management, patient engagement and population wellness solutions help more than 3,060 hospitals and 10,000 other healthcare organizations representing more than 350,000 providers better understand their financial performance, make informed business decisions, enhance their bottom line, protect patient identities, and strengthen the patient payment and care experience. Leveraging a powerful revenue cycle and patient access heritage, advanced data insights, and the patented Passport eCare NEXT® Touchless Processing™ system, Experian Health enables healthcare providers, labs, pharmacies and other risk-bearing entities to automate, integrate and innovate the patient payment and care experience. For more information about Experian Health, visit http://www.experianhealth.com.
We are the leading global information services company, providing data and analytical tools to our clients around the world. We help businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. We also help people to check their credit report and credit score and protect against identity theft. In 2015, we were named one of the “World’s Most Innovative Companies” by Forbes magazine.
We employ approximately 17,000 people in 37 countries and our corporate headquarters are in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended March 31, 2016, was US$4.6 billion.
To find out more about our company, please visit http://www.experianplc.com or watch our documentary, “Inside Experian.”
Experian and the Experian marks used herein are trademarks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.
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