Home Healthcare Success at a glance: price transparency

Success at a glance: price transparency

by World Health Now
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With
so many complexities surrounding deductibles, premiums, copays and more, consumers
sometimes struggle to understand the financial components of their health plans
and are often unaware of the out of pocket for their healthcare needs.

Recognizing that confusion about healthcare costs can make it difficult for consumers to ask the right questions, define priorities and take a more active role in their healthcare, Silver Cross Hospital made a point to educate and provide its patient base with health care estimates prior to service being rendered.

With
the Self-Service Patient Estimates tool from Experian Health, patients of
Silver Cross Hospital now have a consumer-friendly, easy-to-use and accessible
path to obtain out of pocket cost estimates. The Self-Service Patient Estimates
tool works both with the hospital’s electronic medical record (EMR) and as a
standalone tool for the community to use when needed.

Integrating with Silver Cross Hospital’s EMR, the solution calculates estimates based on the hospital’s charge master pricing information and payer contracted rates and utilizes each patient’s individual eligibility and benefits information to create specific out of pocket costs. The tool also allows for detailed and accurate estimate creation using historical claims data to determine the typical procedures and related charges to generate average out of pocket cost estimates by health plan.

Accessible
via the hospital’s website, the tool acts as a digital front door in the
patient exploratory process. Patients can obtain an out-of-pocket estimate any
time of day or night, and as part of the process are then connected to the next
place of service, whether that be to schedule an appointment, ask additional
questions or obtain more information.

Since
implementing Patient
Estimates,
Silver Cross Hospital has:

  • Increased point of service (POS) collections
    by bringing more awareness and education of out of pocket costs to patients
    upfront
  • Reduced inbound calls and queries to the
    organization regarding cost estimates
  • Integrated the solution into scheduling and
    pre-registration workflows within the EMR
  • Reduced time spent training staff on other
    systems or workflows

Learn
more about Patient
Estimates
and how we can help create accurate estimates of authorized services for
patients before, or at the point-of-service.

“Patient Estimates acts a great digital front door for Silver Cross Hospital, facilitating that first step in the patient exploratory process.”

– Miguel Vigo IV, Administrator Director Revenue Cycle, Silver Cross Hospital

The post Success at a glance: price transparency appeared first on Healthcare Blog.



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