I'd never heard of Healwell before and took a look over their offerings. Has anyone used the products? Beyond the…
Experian To Acquire Medical Present Value for $185 Million
Ireland-based financial information and technology vendor Experian announced this morning that it will acquire Medical Present Value for $185 million in cash. The Austin, TX-based MPV offers revenue cycle services to providers that include eligibility verification, patient-friendly statements, credit scoring services, and claims software.
MPV, which has annual revenue of $45 million, will become part of Experian’s North America Credit Services division, which offers services for running small businesses. The company’s other healthcare product is SearchAmerica, a 2008 acquisition that evaluates patients for their likelihood of payment and eligibility for financial assistance programs.
Dan Johnson, president of Experian’s Healthcare Services, was quoted in the announcement as saying, “Healthcare providers in the US face growing challenges when it comes to billing and collecting payments for services. With the addition of MPV, Experian is able to provide a more comprehensive set of products and services across the healthcare payments life cycle and help clients manage multiple vendors through a single point of contact”
MPV was founded in 1998 and serves more than 75,000 providers. Its principal investors are Rho Ventures, CenterPoint Ventures, Star Ventures, and Care Capital.
Fantastic! “I’m sorry, sir, but we can’t treat your heart attack because your credit to debt ratio is too high. Maybe pay off a revolving credit card and then come back for treatment?”
I guess you missed when TransUnion (one of the major credit bureaus) acquired eligibility clearinghouse MedData more than a year ago.
Did I miss the massive commercial credit-driven denials of service that occurred then?
Maybe, maybe not, but now we’re 2 for 3 of the credit reporters owning significant investments in health care.
You used to be able to get a job without a credit check too.
With the massive increase of patient responsibility, health systems have to act more like businesses including pre-screening your financial ability to pay. It allows them to put you in the right track – able to pay vs. designated as charity vs. eligible for assistance.
All 3 credit reporting agencies have been actively marketing pre-screening solutions in healthcare for over 10 years.