Deliver Patient Price Estimates and Improve Your Bottom Line
The modern healthcare consumer is demanding access to trustworthy, relevant pricing information via easily accessible digital technology. Not only do they want price transparency into out-of-pocket costs so they can avoid surprise medical expenses and make better-informed decisions about their healthcare options, they want to shop for healthcare like they do a variety of other services.
The digital technology to empower patients is out there, but many healthcare providers are not providing consumers with transparency into the cost of their care. By leveraging patient cost estimation tools, you start the conversation with patients around payment earlier and create a more consumer-centric financial experience.
Learn More About Patient Estimation
EngageCare has allowed us to streamline all the functionality by adding a payment processor into the same screen where my colleagues are looking at the payment estimate. As a result, we have increased cash collections 45%.
Sue Plank
Director of Patient Access, Goshen Health
How To Effectively Deliver Patient Estimates
Patients want to know the answer to a simple question, “how much do I owe?” The only way to answer that question, in a consumer-friendly way that meets patient needs and improves your hospital’s bottom line, is with accurate estimates of patients’ out-of-pocket costs.
AccuReg offers both staff-facing and patient self-service price estimation tools that share the same data to deliver accurate estimates:
Estimate My Cost™ Self Service Estimate
We are able to provide more transparency with the patient so they can either pay up front, if they can–or if they can’t, they’re not surprised by the amount that comes on their bill later.
Marcie Wallace
Patient Access Director, Sierra View Medical Center
Why Choose AccuReg Patient Estimation Software
As a leading provider of patient estimate software and solutions for healthcare, AccuReg developed Price Estimation and Estimate My Cost to improve patient satisfaction and help hospitals collect more cash—not just to meet government requirements.
With the ability to generate either self-pay estimates or patient price estimates for services using insurance information and real-time deductible information, our patient cost estimation solutions:
- Use your negotiated contract rates along with historical claims analysis to begin the estimate process
- Analyze real-time eligibility transaction data to validate service-level benefit coverage including the relevant co-pays and co-insurance
- Factor in up-to-the-minute deductible balances, which enable AccuReg to deliver accurate prices estimates
- Conduct pattern analysis to determine actual services provided and compare that to estimates to predict even more accurate estimates
- Deploy real-time alerts and scripting, within our work queue, to help your hospital staff communicate out-of-pocket cost obligations and process payments
- Utilize our proprietary intelligent workflow and rules engine platform to deliver the most comprehensive accurate estimates that give your patients insight to their actual out-of-pocket costs
The Benefits of Offering Patient Payment Estimates
Capabilities
- Accurate out-of-pocket cost estimates
- Convenient patient self-service estimates via hospital website
- Mobile optimized and user-friendly
- Self-service and staff estimates linked by unique reference code
- Pre-service/POS collections via included payment processing
- Contract-based estimates
- Service-specific benefit coverage validation including co-pay and co-insurance
- Real-time deductible balance calculation
- Real-time alerts and scripting for collection opportunities
- Staff performance tracking and reporting
- Integrated staff training and testing
- Hospital-branded
Outcomes
- Increase pre-service cash collections
- Reduce lost revenue from patient non-payment
- Reduce avoidable write-offs
- Reduce back-end cost to collect
- Reduce operations burden
- Increase staff efficiency and effectiveness
- Increase staff productivity by allowing patients to create estimates
- Improve patient satisfaction and enhance patient financial experience
- Payment expectation preparedness for patient
- Deliver virtual Patient Access Experience®
- Enhance brand reputation and competitive advantage
- Attract new patients and retain existing patient volume