You wouldn’t buy a car without knowing its cost, would you?
Surprises can be fun, but not when they’re in the form of a bill someone can’t afford. Patients should know how much they’re going to be responsible for before their appointment. Experian Health is here to help you help them avoid the sticker shock associated with unforeseen medical expenses.
Let them know what they owe—online or at point of service
Patient Estimates, a patient-friendly cost estimation tool, calculates estimates based on several types of data—price information in your chargemaster, payer contracted rates and patient eligibility and benefits information. By knowing what they owe you prior to treatment, patients can plan ahead for expenses and pay you more quickly.
Accurate information = get paid sooner
We’ve eliminated the need for manually updating price lists and removed the guesswork and tedious manual processes, which often result in outdated, inaccurate estimates. With Patient Estimates, insurance benefits are populated automatically, self-pay and prompt-pay discounts are applied and quotes are stored and easily retrievable. Your own hospital contracts and reimbursement agreements are used to value the estimate. Your staff can now confidently ask for payment up front knowing the estimate they’re providing is accurate.
Comply with state requirements with price transparency
Undoubtedly you’ve been monitoring progress toward legislation for healthcare providers to furnish patients with estimates for their cost of care. If it’s not already in place, there’s a strong chance your state will be next on the list to require price transparency. Patient Estimates help you comply with price transparency requirements.
Better control your process—and increase patient satisfaction—by developing and adhering to consistent pricing policies, tracking potential vs. actual collections and ultimately, increasing up-front patient collections. Click Contact Us at the right to get started.
We welcome the opportunity to provide you more details.