Equifax Launches New Solution to Support Social Service Agencies Through All Phases of the Benefit Lifecycle

Rhea-AI Summary

Equifax (NYSE: EFX) launched a new solution, Instant Client Insights Case Monitor, on March 7, 2023, aimed at helping government agencies make informed decisions regarding social service benefits. This tool leverages the TotalVerify data hub to monitor changes in beneficiaries' circumstances, enhancing the efficiency of processing applications and redeterminations.

With the upcoming end of continuous Medicaid enrollment on March 31, agencies expect a surge in redeterminations. The ICI Case Monitor aims to support agencies, including those managing Medicaid and SNAP, in effectively managing these transitions and ensuring continuity of benefits for millions.

Positive

• Launch of Instant Client Insights Case Monitor enhances decision-making for government agencies.
• Supported 45 million verifications for various government assistance programs in 2022.
• Aims to improve efficiency in processing applications and redeterminations amid staffing shortages.

Negative

• Faced with a surge in benefit redeterminations after the end of continuous enrollment.

New Instant Client Insights Case Monitor™ Helps Support Continuity of Government Benefits with Data-Driven Insights

ATLANTA, March 7, 2023 /PRNewswire/ -- Equifax® (NYSE: EFX) today announced the launch of Instant Client Insights (ICI) Case Monitor™ to help government health and human services agencies make quicker and more informed benefit decisions for the people they serve. Powered by the Equifax TotalVerify™ data hub, ICI Case Monitor is designed to conduct the traditional searches agencies currently use and monitor for potential beneficiary life changes.

ICI Case Monitor is the latest innovation demonstrating Equifax's commitment to serving hundreds of U.S. federal, state, and local government agencies. As an example, Equifax has supported the federally funded healthcare marketplace since its inception, and in 2022 fulfilled 45 million verifications in support of various government assistance programs.

After the Medicaid continuous enrollment provision ends on March 31, social service agencies will begin processing benefit redeterminations that were on hold throughout the COVID-19 pandemic. Faced with a surge of redeterminations, as well as ongoing staffing shortages affecting many programs, social service agencies are seeking out meaningful solutions to help them process applications and redeterminations with greater efficiency and confidence, in order to support a more timely and streamlined process for the agencies and beneficiaries alike. State Medicaid partners, amongst other agencies, will be able to leverage data from solutions offered on the Equifax TotalVerify data hub to help provide effective and efficient determination and redetermination of benefits for millions of individuals, whether through the federal marketplace, state platforms or directly through Equifax.

"Millions of people rely on vital social service benefits every day, and we are proud to offer innovative solutions that can help agencies serve more people, more efficiently," said Mike Bromley, Vice President and General Manager of Equifax Government Solutions. "The solution provided by ICI Case Monitor can help agencies increase caseworker capacity, reduce program churn and support continuity of care for beneficiaries. Ultimately, we are helping the agencies to provide timely benefits to individuals in need and cost effectively administer their programs."

Through ICI Case Monitor, an agency will be able to conduct its initial searches plus receive alerts when a member of its population experiences certain changes that may impact benefit eligibility, either through direct verification or by notifying the agency that further investigation is needed. These changes are set to policy-specific thresholds as applicable to the agency seeking the information, helping promote timely benefit delivery and continuity of benefits to eligible beneficiaries throughout the benefit lifecycle.

In addition to Medicaid, ICI Case Monitor can also support agencies providing benefits under programs such as the Supplemental Nutrition Assistance Program (SNAP), Temporary Assistance for Needy Families (TANF) and more. ICI Case Monitor begins with the consumer's consent when they apply for social services, then notifies the agency only when a change relates to specific predefined criteria according to program and policy requirements.

ICI Case Monitor is one solution on the ICI platform powered by the TotalVerify data hub, which brings together The Work Number® and other Equifax data sources into one delivery platform, which can help streamline the benefit eligibility process, from application through renewal. ICI Case Monitor is available now for federal, state and local health and human services agencies. To learn more about the full ICI suite of products, visit Equifax.com.

ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 14,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.

FOR MORE INFORMATION:
Daniel Jenkins for Equifax
mediainquiries@equifax.com

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SOURCE Equifax Inc.

FAQ

What is the new solution launched by Equifax on March 7, 2023?

Equifax launched the Instant Client Insights Case Monitor to assist government agencies in managing social service benefits.

How does the ICI Case Monitor help government agencies?

The ICI Case Monitor provides data-driven insights to help agencies make informed decisions and manage benefit redeterminations more efficiently.

What impact does the end of continuous Medicaid enrollment on March 31 have on Equifax?

The end of continuous enrollment is expected to increase the volume of benefit redeterminations that agencies must process.

Which government programs can utilize the ICI Case Monitor?

The ICI Case Monitor can support agencies managing Medicaid, SNAP, and Temporary Assistance for Needy Families (TANF).

What kind of data does the ICI Case Monitor rely on?

The ICI Case Monitor is powered by Equifax's TotalVerify data hub, utilizing various data sources for accurate benefit assessments.