#JoinTheConversation on Healthcare Transformation with Experian Health at #HIMSS17
This #JoinTheConversation series is brought to you by our partner Experian Health and the episodes will be broadcast live in Experian Health’s booth (#3503) at the The HIMSS17 Annual Conference and Exhibition. The interviews will be recorded and will be published to the media player on this page. Bookmark this site to follow along with thought leaders from health systems across the country. Also, read more read more about why More than 60% of U.S. hospitals count on Experian Health.
Jennifer Schulz, Group President of Experian Health joined us for this special episode to discuss how Experian Health is best equipped to help lead providers through the fee for value transformation.
Joe Lavelle 00:47 Welcome to a very special episode of Intrepid Healthcare. We are so excited to be previewing our collaboration with Experian Health at HIMSS17 where we’ll broadcast a special show called #JoinTheConversation right from Experian Health’s booth, #3503. Experian Health is making a concentrated effort to have meaningful conversations with their customers and prospects and we can’t think of a better way to do that at HIMSS than to bring them to our booth to converse for our mutual audience. We are going to get right to it today. We are joined by Jennifer Schulz, Group President, Experian Health. Jennifer welcome to the show.
Jennifer Schulz 01:21 It’s good to be here.
Joe Lavelle 01:22 Well thanks for making the time this morning Jennifer. Before we start our discussion. Could you take a few seconds and tell the audience about you and your background?
Jennifer Schulz 01:29 Sure, I’m Jennifer Schulz, I started with Experian for about three years. Prior to that I was an executive at Visa in the payment industry for about 12 years.
Joe Lavelle 01:41 Perfect and Jennifer could you give us a 10,000 foot overview of how you serve your customers at Experian Health?
Jennifer Schulz 01:46 Sure. At Experian Health we have a broad array of revenue cycle management products. Both the front end and the back end of revenue cycle. We serve about 60% of the US hospitals today and we are in a large number of the largest physician offices as well. Our product help our clients identify their patients, help their patients register, make sure that they understand the eligibility of their patients. And then we do claims and contract management on the back end as well.
Joe Lavelle 02:22 Perfect. And I can tell you that I and our audience are very excited to get your perspective Jennifer as the person running the show there. We are really interested in the strategic view of Experian Health. Can you tell us how Experian Health is best equipped to help lead the way through healthcare fee for value transformation?
Jennifer Schulz 02:40 Sure. You know everybody has these questions on their mind. There has been a lot of uncertainty with regards to what the future holds for Healthcare in the US. But the reality is that they move away from transaction based services where providers are paid by transaction or by interaction with their patients into a world where some of those services will be paid as bundles, is a reality I think we are all facing. And our perspective is that, there isn’t going to be one single form of payment. There isn’t going to be only fee for transaction or only fee for value type payments. There is going to be a variety. And our solutions need to help the providers handle that.
We have some really exciting core capabilities around making sure that, let’s say if you are an accountable care organization network. Our member match product helps identify patients in real time as they seek care. We identify them whether or not they are within the network or outside of the network to help those patients and those providers best address costs as well as drive better clinical outcomes for those providers and those patients.
We also have a very strong background in analytics. Our revenue cycle products and our software help understand patient history and service patterns, so that hospitals and providers can think more holistically about care bundles and how that can negotiate with the payers. We also have a lot of products associated with insight in terms of contracts, insight in terms of claims. Our claim source manages and splits remittances so that bundled participants can optimize their payments.
Joe Lavelle 04:46 Perfect. Jennifer, what are the key things you see happening on the healthcare landscape that will affect your client operations and then how is Experian Health working to help solve their problems?
Jennifer Schulz 04:56 I think in general, when we talk to our largest providers they want to make sure that they are prepared for the future healthcare, and that their payment and revenue cycle is robust enough that they can handle whether it is a fee for transaction interaction with the provider or with the patient as well as fee for value. In order to do that they have to optimize their operations. There is a lot of belt tightening happening in the industry and people are trying to see and understand how best to organize, how best to analyze and facilitate that payment cycle. We believe that data and analytics are two of the key ways to do that. Our software tools as well as the data that we embed into that software helps optimize the revenue cycle. And what do I mean by that?
I mean we help patients from the very beginning understand through our patient estimate product how much their services are going to cost. We help our clients to understand when engaging with their patients what type of eligibility that patient has? What there co-payments are? What type of out of pocket expenses that individual is going to have? So that, that provider can engage that individual in a conversation around payment. We also make sure that on the back end, our claims and our collections optimization products help our hospitals use the best channel and the best means to make sure that they can collect the revenue they need so they can continue to provide the care for the patient. So at the end of the day our software solutions, our data and our analytic are helping our providers to drive efficiency in their revenue cycles. So that they can then make sure that their institution has the revenue, so that they can continue to provide the care, which is at the heart of what our providers do which is the care.
Joe Lavelle 07:10 Perfect. Jennifer patient engagement has become just a huge buzz word and I know lots of different companies are working on it. It has become really strategically important for health care organizations like the one you serve. How do you see patient engagement unfolding? What tools will pivotal for patients to take control of their health care?
Jennifer Schulz 07:28 Patient and consumer expectations have changed so dramatically. Patients want to have more transparency. They want to engage more proactively in the entire cycle of care, everything from payment to choosing their providers, the reality though is many of these same patients are also facing a world where they are deductibles and out of pocket expenses are increasing. And so our perspective is we need to help our providers enable their patients so that can make smart decisions with regards to their health care. Making those smart decisions requires solutions such as the patient facing estimates we talked about or financial screening prior to engagement. We also know that patients more and more want control over their information and so providing those patients with portals where they can access their schedule, they can access their medical history, they can access their information on billing.
Those are all solutions we provide to our providers and the in turn are pushing out to their patients so that those patients become a part of the equation not just on the clinical side but on the financial side as well. If they are engaged with a decision, they understand the payments and the financial obligations they are undertaking, it really is about patient empowerment. And we believe that by providing our hospitals the tools that they can then use to engage their patients, they will be able to have a more engaged patient, a more informed patient and frankly, they will be able to optimize their revenue because those patients will understand what is coming.
Joe Lavelle 09:25 Outstanding at this time I want everybody to go to http://www.experian.com/healthcare Bookmark the site, keep up with what they are doing at Experian Health, Jennifer and her team are adding new content out there almost every day and it is really great! They have just rebranded the site and there is lots of new and really interesting content out there. Jennifer it is so great to have you on the show. Thanks for stopping by and sharing your great insights with us.
Jennifer Schulz 09:53 Thank you so much. Have a great day.
Joe Lavelle 10:03 You too. We are going to get back to our preparations for HIMSS17. We hope you will join the conversation with us in Orlando. That’s going to wrap this special episode, On behalf of Experian Health and specifically Jennifer Schulz. I ‘m Joe Lavelle and we will see you soon on intrepid Healthcare.
About Jennifer Schulz
Jennifer Schulz is the Group President for Experian Health and is responsible for the strategic vision and ongoing operations of its healthcare business. Jennifer joined Experian in November 2013 and led the integration of the Passport Health Communications business to form Experian Health. In addition to her health business responsibilities, she also serves as Group President for Experian’s Automotive business and Corporate Marketing group.
Before joining Experian, Jennifer served as Senior Vice President of global product strategy, innovations and eCommerce for Visa Inc. In that role, she was responsible for the strategic direction and management of Visa’s global eCommerce business and for driving Visa’s product innovation strategy. Previous roles include managing Visa’s global consumer credit products, strategy for Visa’s processing business and leading the technology organization’s strategic planning function.
Prior to Visa, Jennifer held strategy, product, marketing and operational roles in advisory services, as well as the healthcare and public sectors.
Jennifer earned an MBA from the University of Michigan, Ross School of Business, and a BA in Journalism from the University of Wisconsin.
About Experian Health
More than 60% of U.S. hospitals count on Experian Health. These providers—along with thousands of medical practices, labs, pharmacies and other risk-bearing entities—are making smarter business decisions, boosting their bottom lines and strengthening patient relationships. Our clients have discovered the value of our revenue cycle management, identity management, patient engagement and care management solutions to power opportunities in the new era of value-based reimbursement.
Experian Health is powered by the strong healthcare heritage of our legacy companies, plus the deep data and analytics capabilities of Experian. This unique combination positions us well to help you succeed.
Revenue cycle management solutions automate orders, patient access, contract management, claims management and collections to improve efficiency and increase reimbursement.
Identity management solutions match, manage, and protect patient identities to enable accurate patient information and to safeguard medical information.
Patient engagement solutions connect patients with personalized portals to create price estimates, apply for charity care, set-up payment plans, combine payments to hospitals and physicians and schedule appointments.
Care management solutions organize and enable sharing of post-acute patient care information to help providers succeed in the new era of value-based reimbursement.