In June 2019, the White House issued an executive order requiring the Secretary of the Department of Health and Human Services (HHS) to propose a regulation that would allow patients to compare prices across hospitals. The published HHS ruling requires hospitals to publicly post standard-charge information, including payer-specific negotiated rates, for common or shoppable items and services, and to present it in an easy-to-understand, consumer-friendly format. This rule goes into effect on January 1, 2021.
Leveraging RevSpring’s expertise in clear and precise patient communication to make a complicated and complex price shopping experience intuitive and stress free, RevSpring’s True Price™ Consumer Price Shopping Tool provides healthcare organizations with all the functionality and tools necessary to comply with the price transparency ruling requirements while opening a new avenue for attracting patients to their organization.
Instead of sorting through complicated price lists and contracted rates, consumers will have access to a contemporary user interface that is intuitive and uncomplicated.
Beyond compliance to patient outreach
Making it easy for the patient to find and understand their costs can not only ensure compliance to the HHS ruling but allows healthcare organization to put their best foot forward to potential patients. Providing a positive user experience that is simple, clear, and transparent – even before they commit to service – paves the way for a superior patient experience that will drive loyalty and satisfaction.
Consumers access the price shopping tool (no login required), selecting procedures they would like to price with the option to enter their insurance information to more accurately understand their out-of-pocket expense. After completing the calculation, a price reference number is provided and customizable calls to action are available, such as “schedule an appointment” or “have a patient representative call me”. True Price also generates a unique reference number for the estimate to facilitate future conversations or questions.