Patient Access Impact
Revenue Cycle Impact
Hospital Financial Impact
Confidently provide patients out-of-pocket estimates before providing services.
The rise of high-deductible health insurance plans means up to 30% of hospital revenue now comes from patients. In many cases, a patient’s ability and willingness to pay depends on his or her up-front understanding of what is owed.
Your ability to deliver accurate patient payment estimations makes it easier to collect up-front where the likelihood of collecting is the greatest and the cost is the lowest. Conversely, not providing estimates means you miss collection opportunities and increase the risk of bad debt after the delivery of service.
Hospital Revenue From Patients
AccuReg’s Payment Estimation software lets your registrars communicate out-of-pocket obligations and secure more revenue during the registration process. It grabs data from electronic orders and scheduling and incorporates chargemaster pricing, payer contract terms, claims history and eligibility and benefits for improved accuracy. It’s how to set expectations with patients and provide the basis for financial counseling. And it automatically estimates liabilities based on payer rules and includes co-pays, deductibles and co-insurance. Private pay estimates are based on your chargemaster with optional prompt-pay or self-pay discounts.
Once the system identifies a collection opportunity, the registrar receives a real-time alert. The estimate can then be printed out to share with the patient, making it easier to discuss the out-of-pocket expenses and collect payment on the spot.