Pricing Estimation

Pricing Estimation

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Revenue360 Pricing Estimation Module

Client’s Say:

" ... it's a win-win-win situation. It's a win for the patient, a win for the hospital, and a win for my staff." — Carmen Gonzalez, Patient Access Manager, South Nassau Communities Hospital

Benefits:

  • Increase Point-of-Service Collections
  • Increase Price Transparency
  • Reduce Anxiety about Payments
  • Reduce Days in Accounts Receivable

Learn More… Download Our Overview (PDF)

Maximize Point of Service Collections!

Revenue360 helps hospitals increase collections

Revenue360 helps hospitals increase collections

The Revenue360® Pricing Estimation module delivers credible patient payment estimates for medical services at or before the point-of-service. Pricing Estimation analyzes historical charges, payer contract terms, and current patient insurance and benefit information to predict what patients are likely to owe for services provided.

The result? Increased collections at the time of service, improved cash flow, and reduced patient receivables and bad debt. And more importantly, Revenue360 Pricing Estimation improves patient to provider relations, by educating the patient on their financial responsibility from the beginning, allowing financial planning with no surprises.

Revenue360 - Hospital procedure pricing estimation.

Registrar staff can quickly estimate costs of procedures over the phone and at POS for increased pricing transparency and improvements to the revenue cycle.

This is how the 5-Step estimation process works: (use arrows below to navigate)

Navigate with the arrows above after pressing start – use the bottom right button for full screen.

Step 1: Patient demographic and service information is collected or auto-populated from the registration system.
Step 2: Procedure and diagnosis codes are collected.
Step 3: Patient insurance eligibility and benefit levels are verified. Benefit information can be transmitted automatically via a direct EDI interface or manually entered.
Step 4: Based on the information entered in the first three steps, an estimate is generated for review.
Step 5: A printable, customizable letter with your practice’s logo and contact information is printed and saved for easy future access. The letter contains the patient’s demographic, procedure, benefit and payment information, which can combine facility and clinic estimates or be broken out by facility.

 

*HFMA staff and volunteers determined that ClearQuote has met specific criteria developed under the HFMA Peer Review Process. HFMA does not endorse or guarantee the use of these products and services.

Author: Rev360 Editor

The Revenue360 Editing team, at Provider Advantage, is focused on covering Healthcare issues as they relate to gains in Hospital Revenue Cycle Management.

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