Experian Health, a leading provider of revenue cycle management products that include claims management, payer contract management and patient collections, today announce that its Enterprise Health Patient Identifier Solution and Hospital Claims Management Systems have been recognized as top-rated solutions in Black Book’s 2021 Top Client-Rated Financial Solutions Achieving Accelerated Digital Transformation in the Nation’s Healthcare Systems rankings. The survey, now in its 11th iteration, polls for vendor satisfaction and industry trends across the healthcare software/technology and outsourcing sectors globally.
Experian’s proprietary solutions are recognized as data-driven and designed to help the healthcare industry create a more optimal and simplified journey for both providers and patients. Experian Health’s Patient Identifier Solutions, most notably its Universal Identity Manager product, and Hospital Claims Management Systems, which includes ClaimSource, Enhanced Claim Status and Denial Workflow Manager, help apply industry-leading technology solutions to clients’ real-world challenges in a rapidly-changing industry.
“During what was a tumultuous year in 2020, we kept our focus on our clients and continually innovated to meet their needs,” said Tom Cox, president for Experian Health. “We are extremely proud our products helped healthcare organizations manage through the pandemic crisis, and that they are highly rated amongst our clients, who have had to be extremely flexible and efficient under the stressful conditions of the past 18 months.”
COVID-19 presented more demand for identity management
As patients sought COVID-19 care, testing and vaccinations across multiple settings, both in-person and virtually, care coordination challenges increased without a single view of the same patient. According to one estimate, matching within facilities can be as low as 80 percent — meaning that 1 out of every 5 patients may not be matched to all his or her records when seeking care at a location they’ve already received care from in the past. The vision of an integrated, interoperable healthcare ecosystem starts with consistently and correctly linking disparate clinical and non-clinical data to a single person. Experian Health’s Universal Identity Manager streamlines patient data management by eliminating duplicate patient records using advanced analytics.
Navigating claims additional challenge during pandemic
As the country moves towards a fully vaccinated society, the vaccination program has compounded many of the challenges of the last 12 months for pharmacists and providers alike. Shots may be free to patients, but there is a reimbursement ecosystem with complicated billing processes, extra billing audits and paperwork along with rejected claims and slow payments. The claims process is causing headaches for many organizations’ revenue cycles and providers were tasked to find ways to quickly and accurately determine each patient’s coverage status to minimize bad debt.
The claims process of healthcare data can be optimized using Experian’s ClaimSource suite of products, which include solutions to improve financial performance with automated, clean and data-driven Institutional, Professional, and Dental claims management. Claims can be analyzed with greater confidence and any errors can be identified prior to submission.
About Black Book™ Rankings
To develop the 2021 financial solutions rankings, Black Book™ collected survey responses from 4,616 hospital and health system Chief Financial Officers, Vice Presidents of Finance and RCM, Controllers, Business Office Managers, Staff, Consultants and Directors from hospitals and physician practices to determine the top-performing vendors among in-demand financial software, technology platforms and systems, and assess the gaps and urgencies of financial technology administration.
Black Book conducts polls and surveys with healthcare executives and front-line users about their current technology and services partners and awards top-performing vendors based on performance based on eighteen indicators of client experience, loyalty and customer satisfaction.
About Experian Health
At Experian Health, we serve more than 500,000 providers with data-driven platforms and insights that empower our clients to make smarter business decisions, deliver a better bottom line and establish strong patient relationships. We are part of Experian, the world’s leading global information services company, providing us access to deep data and analytics capabilities that complement the strong healthcare heritage rooted in our legacy companies. Our industry-leading solutions span revenue cycle management, identity management, patient engagement, and care management.
Experian has 17,800 people operating across 44 countries, and every day we’re investing in new technologies, talented people and innovation to help all our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.
For more information about Experian Health, visit http://www.experianhealth.com.