Patients depend on accurate out-of-pocket payment estimates. Delivering these prior to service gives you the opportunity to collect more revenue up front and decrease your risk of bad debt later.
Fast, accurate estimates let patients compare providers and treatment options in advance of service. They also set your hospital or practice apart from competitors.
The first step in a successful collection is to make an accurate estimate of what the patient owes.
Set expectations with patients early on and your team will collect more up-front payments. Your staff will also be better equipped to help patients with financial planning where needed. which results in higher patient satisfaction in the end.
The AccuReg Automated Payment Estimation solution helps your team collect more money up front. Since 30% of revenue now comes from patients, automating the process means more cash flow for your hospital or medical facility.
Once AccuReg identifies a collection opportunity, a real-time alert goes to your registrar who can print the estimate and share with the patient, making it easier to explain the costs of care and collect payment immediately.
By blending our Patient Access Experience® tools with fast out-of-pocket estimates and financial outreach, providers can increase cash collections, reduce accounts receivable turnaround and lower costs.
AccuReg Payment Estimation automatically estimates liabilities based on payer contract terms. It includes co-pays, deductibles and co-insurance.
Private pay estimates are based on chargemaster pricing with optional prompt-pay or self-pay discounts. AccuReg Payment Estimation pulls information from electronic orders and scheduling — and also incorporates payer contract terms, claims history, eligibility and benefits.
AccuReg Estimation compares actual vs. expected reimbursement and uses Integrated Intelligence to adjust the formula’s thereby constantly performing better and better.
- Custom Code aliases that make it easy for non-coders to check for medical necessity, making registration easier for your team and faster for your patients.
- Order Manager allows physicians to send orders through an online portal for real-time scheduling and capture of CPT codes, patient demographics and insurance policy information. This results in a reduced workload for Patient Access.
The AccuReg Estimation Accuracy GuaranteeTM
Our estimate of patient payment is accurate within 90% of the final bill. NAHAM® has set the standard that 85% of your estimates should fall within this range, and we back that up with a guarantee. If our estimates ever fall below the NAHAM® standard, we’ll waive your monthly fee until they exceed it.