Experian 2013 Annual Report Download - page 15
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Please find page 15 of the 2013 Experian annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Competitive environment
Our competitive advantage lies in the
depth and breadth of our data assets
across the globe; they are very extensive
in the markets in which we operate and
include many unique data sources,
which can be exclusive to us.
We are the primary provider of
consumer credit information to many
financial institutions in the US; the
other credit bureaux are Equifax and
TransUnion. In Brazil and the UK,
we are the clear market leader and
we have leading positions in many
other countries.
In business information, we are the
market-leading provider in Brazil, the
UK and in a number of other markets.
In the US, we are second to
Dun & Bradstreet, which is the
only global competitor in this field.
Market influences
See page 14 for market influences on
Credit Services and Decision Analytics.
Altru Health System, an
integrated not-for-profit
community health system that
includes a 300-bed acute care
hospital and 20 outpatient clinics,
cares for 200,000 patients a year
in Grand Forks, North Dakota,
US. In an effort to help combat a
growing population of uninsured
or ‘self-pay’ patients, Altru
needed to find the tools necessary to manage this increase
in volume and assist in qualifying patients for charity and/or
Medicaid benefits.
After evaluating several solutions, Altru selected our
Healthcare Collections Optimisation service to better manage
patient accounts through data-enriched segmentation. Using
financial background and behavioural data, Collections
Optimisation uses algorithms to create weighted scores that
illustrate a patient’s payment ability and probability to pay.
When paired with other aspects of the solution, like Medicaid
screening, Altru was able to identify accounts eligible for
Medicaid. This ensured patients who were Medicaid eligible
were not forwarded for collection activity, and their insurance
was billed. By implementing this process, Altru identified over
4,000 patients entitled to assistance worth US$2.7 million –
helping reduce days in accounts receivable, obtain Medicaid
reimbursement for the insurance filings and reduce bad debt
write-offs.
Stan Salwei, Patient Financial Services Manager at
Altru Health System, says: “By leveraging Collections
Optimisation paired with other Experian Healthcare
patient access solutions, we’ve stabilised our ability to
respond to the rise in ‘self-pay’ patients and avoid the
payment risk this poses. Even better, we have helped
them obtain healthcare coverage, which is a win-win
for all. Partnering with Experian has allowed us to be
an advocate for our patients while also protecting the
bottom line.”
Altru
Yorkshire Water
Yorkshire Water manages
the collection, treatment and
distribution of water in Yorkshire,
the UK’s largest county,
supplying households with 1.24
billion litres of drinking water
each day.
With growing financial strain
facing many households, there is an increasing need for
utility companies to understand and gain insight into those
customers who are facing financial hardship, and prioritise
them for help before it becomes a more serious situation.
Yorkshire Water became the first water company in the UK to
join Experian’s Credit Account Information Sharing (‘CAIS’)
service as a full member.
Full membership of our CAIS service means Yorkshire Water
not only shares information about all of its customers on
how they manage their accounts, from payment history to
outstanding balances, but it also gains access to the same
information provided by other members of the scheme.
These include financial services and telecommunications
companies.
The utility company is now able to access a customer’s full
credit history, with their permission, to help identify customers
who may be showing early signs of financial stress. This
significantly reduces the likelihood and level of bad debt,
which is currently three times higher in the water industry than
in the rest of the energy sector.
Jonathan Harding, Head of Customer Service at Yorkshire
Water, says: “Putting in place the tools to share data and
utilise credit information, will help provide a reliable early
warning of customer behaviour and how that might play
out over time. It makes us better placed in the utilities
sector to understand our customers and adapt effective
payment plans to ensure our customers are being
treated fairly and that we are responding to individual
circumstances and needs.”
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