Price transparency has great promise for patients and providers when you navigate the obstacles. Fill the gaps in preservice estimation with accuracy, continuity, and payment options that fit the estimate and the patient. RevSpring also can help you comply with the price transparency ruling—while helping you to differentiate from competitors—with clear and consistent pricing information that is easy to access and understand.
Chances a patient will pay increase from 30% to 70% if you communicate costs before a procedure
Providing effective price estimates not only requires financial transparency, it must empower patients to meet their financial obligations right away. RevSpring can support financial success by providing engaging solutions that fit within your billing payment and patient experience framework. That’s why we ask for digital contact information, provide access to payment options and ability to store a card, and prepare patients early for their financial journey.
Let RevSpring help you meet and exceed Price Transparency and Surprise Billing requirements by presenting costs clearly and precisely. You won’t just be providing transparency around healthcare costs (and meeting federal requirements), you’ll empower patients to understand their financial obligations. You’ll also be gaining a powerful competitive advantage because when it comes to patient costs, knowing is always better!
Estimates that claim to offer down-to-the-penny accuracy 100% of the time are not realistic. However, meaningful and accurate patient financial conversations are achievable when we use data science to track and score estimates. This improves patient payment rates and properly engages the patient early in their financial responsibility.
Better results require a better approach. Discover how our patient engagement strategies—that personalize financial communications, touchpoints, and payment options—make a real impact on patient experience.
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