Consulting firm TransUnion announced Tuesday it has acquired Denver-based Financial Healthcare Systems, provider of the real-time payment estimation tool ClearQuote.
“TransUnion Healthcare’s acquisition of Financial Healthcare Systems is a reflection of our overall growth strategy, and will enhance our existing products for providers and channel partners,” said Milton Silva-Craig, executive vice president of Chicago-based TransUnion Healthcare.
Financial Healthcare Systems’ patient payment estimation solution will be integrated with TransUnion’s revenue cycle management solutions, including its patented self-pay and charity care solution.
“The integration of FHS’ ClearQuote into our Revenue Manager solution will offer clients the opportunity to improve the patient experience and engagement process through greater transparency, while also helping them achieve significant cost savings, improve point-of-service collection, and reduce bad debt. These are top priorities for providers as they continue to navigate the dynamic, ever-changing healthcare environment and adapt to a growing sense of ‘consumerism’ from patients,” said Silva-Craig.
Based on its Pulse Poll of recent hospital patients, TransUnion said two-thirds of U.S. adults would prefer to know their financial responsibility prior to heatlhcare service.
“It is incumbent on providers to begin using these tools,” said Silva-Craig.
Financial terms of the deal were not disclosed.