Experian Health Acquires Wave HDC, Immediately Enabling Real-Time, Single Inquiry Insurance Discovery/Verification at the Point of Patient Registration
Summary
Wave HDC offers several insurance “curators” including Coordination of Benefits, Eligibility and Medicare Beneficiary Identifiers, and serves hospitals, laboratories, billing companies and physician groups. “Our mission is to simplify healthcare, and this move allows us to quickly scale our portfolio with advanced logic and AI-powered technology to help solve one of the biggest administrative problems providers face today, which is claim denials,” said Tom Cox, president of Experian Health. “With our vast clearinghouse data and Wave HDC’s expertise in insurance data capture processes and technology, we now offer the best eligibility and insurance identification products in the market.” “This is a unique opportunity to join Experian Health to reach more healthcare organizations with our leading capabilities, especially during an operationally challenging time for providers,” said Jordan Levitt, president and chief executive officer, Wave HDC. Claim denials continue to be a pain point for hospitals and medical practices contributing to more than $200 billion dollarsi per year in lost revenue. At Experian Health, we serve more than 60 percent of U.S. hospitals and more than 7,500 medical practices, labs, pharmacies and other healthcare providers with data-driven platforms and insights that help our clients make smarter business decisions, deliver a better bottom line, and establish strong patient relationships.
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