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Healthcare Price Transparency is no more a Myth!
Medical emergencies are unwanted guests adding additional expenses. These expenses can now be tackled and made transparent, as latest technologies empower patients to determine their financial liability.
FREMONT, CA: AccuReg, a healthcare technology solutions company has launched Estimate My Cost™, a web-based, patient-facing tool that quickly and accurately estimates a patient's financial responsibility in advance of a clinical procedure. The solution addresses the complexity of multiple patient access processes within a simple, single-user console that is fully integrated with the EMR/HIS protocols.
The new product empowers patients to manage their financial liability for surgeries or other complex health procedures. It also improves staff productivity by reducing the need to respond individually to patient inquiries and enhances patient economic efficiency. Demand for price transparency has always been on a high. Health systems are under obligation to provide patients with self-service estimation and payment tools. Estimate My Cost goes far ahead posting retail chargemaster costs; it gives patients a precise evaluation of their balance due after insurance or self-pay discounts. Health systems benefit by mitigating no-shows, increasing pre-service collections, and lessening labor cost by giving patients access to the same powerful estimation tool used by hospital staff
Estimate My Cost is formulated on AccuReg's market-leading patient evaluation tool already in use by frontline workers around the country to respond to patient estimate inquiries. It combines data from the provider's payer contract terms, chargemaster, claims history, and the patient's insurance benefits to generate either a price estimate for ordered procedures. AccuReg continually monitors and improves the efficiency of its forecasts with a data analytics method that identifies errors and recalibrates the system for constant quality improvement
AccuReg is a healthcare technology solutions company offering a full suite of front-end revenue SaaS solutions for hospitals. The company is known for its integrated suite, which includes its top-ranked QA rules engine, intelligence-driven eligibility, and empowers patients to determine their financial liability and benefits verification workflow. AccuReg's cloud-based solutions automate the front-end method, critical to the patient economic concern and revenue capture.