Passport Health
Communications a software-as-a-service company, provides revenue cycle management solutions and platforms. The company offers eCare Patient Access Suite, including solutions for patient demographic and insurance verification, compliance, and managing patient payments, Order Checker that validates outpatient diagnosis and procedure codes, and IntelliSource, an integrated patient access system. It also provides OneSource, a Web-based user interface, which enables to verify patient demographic and insurance information, identify coverages, maintain payer compliance, and estimate and collect patient payments; Batch Source that allows for automation to upload, process, and download files for various transactions across the revenue cycle and Registration Quality Assurance, a Web-based integrated solution, which automatically launches insurance eligibility real-time.
In addition, the company offers Patient Payment Estimator that calculates estimates based on price information eCashiering, a solution for processing patient payments prior to or at the point of service; Claims Management Suite, which provides solutions and services for claims submission, editing, denials, and reimbursements; Payment Navigator, an automated financial screening tool; and Order Rite, a single-user interface to submit, validate, and manage pre-certifications. Further, it provides patient verification, compliance, and payment management services. The company serves health care organizations, including hospitals, physician offices, surgery centers, durable medical equipment facilities, and skilled nursing facilities. Passport Health Communications was formerly known as InterMed, LLC and changed its name to Passport Health Communications, Inc. in 1998. The company was founded in 1996 and is headquartered in Franklin, Tennessee. Passport Health Communications, Inc. operates as a subsidiary of Passport Holding, Corp.
Healthcare industry in the US is a US$3 trillion industry that consumes approximately 18% of US GDP. It includes healthcare providers that range in size from small physician clinics and individual hospitals, to large healthcare groups.
The administrative tasks associated with obtaining payment for healthcare services have become increasingly costly for healthcare providers, while healthcare payment regulations have increased in complexity. Patients are becoming responsible for a larger portion of their healthcare bill and reimbursement rates covered by insurance policies often fluctuate. This is leading healthcare providers to make improvements in the way they gather information from patients, how they determine patient eligibility for insurance and charitable aid, and how the final bill gets presented.
Experian entered the healthcare payments market in 2008, with the acquisition of Search America, which focused on helping hospitals to manage their billings and cash flows. Experian further consolidated its position in 2011 with the acquisition of Medical Present Value, which extended its client footprint into physician practices and clinics and added new capabilities in insurance claims. Subsequently, Experian merged the two businesses to create Experian Healthcare, which in the year ending 31 March 2014 is expected to generate revenue of US$75m, with organic revenue growth in the mid-teens. Revenue solutions automate patient access, contract management, claims management and collections to improve efficiency and increase reimbursement. Identity solutions match, manage, and protect patient identities to enable accurate patient information and to safeguard medical information. Patient solutions connect patients with personalized portals to create price estimates, apply for charity care, set-up payment plans, and combinepayments to hospitals and physicians and schedule appointments. Care solutions organize and enable sharing of post-acute patient care information to help providers succeed in the new era of value-based reimbursement.
