Patient Estimates

You wouldn’t buy a car without knowing its cost, would you?

Is your organization ready for price transparency requirements?

Dan Wiens talks about how Experian's patient-facing estimation tool that allows patients to go directly to a website, which not only improves patient satisfaction, but also fulfills state regulations.

Surprises can be fun, but not when they’re in the form of a bill someone can’t afford.

Patient payment responsibility has increased and this requires healthcare organizations to optimize their collections from patients and payers simultaneously. By closing the gap in payer contracts and reimbursement, healthcare organizations can accurately provide transparent cost estimates throughout every patient’s continuum of care.

Patient Estimates is a user-friendly, web-based pricing transparency tool for hospitals, medical facilities, and physicians that creates accurate estimates of authorized services for patients before or at the point-of-service. It combines data from the provider’s chargemaster, claims history, payer contract terms, and the patient’s insurance benefits. These estimates incorporate financial assistance policies for self-pay patients, including prompt-pay discounts, state-mandated discounts, and payment plans.

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.

Saratoga Hospital client success story

How Patient Estimates helped them increase cash collections from patients by 400%

Key features and benefits

Let them know what they owe—online or at the 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need for manually updating price lists and removed the guesswork and tedious manual processes, which often result in outdated, inaccurate estimates.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.



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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. Complete the form below.