Experience the Power of nThrive CarePricer Estimating Technology

By nThrive | Posted: 03/09/2020

nThrive price transparency health care solutions

Editor’s note: To follow is an edited transcript of the nThrive CarePricer Estimating Technology video demo, which can be viewed in its entirety here.

Introduction

With the recent health care price transparency ruling by the Centers for Medicare and Medicaid Services (CMS), which goes into effect on January 1, 2021, many clients are asking, “What can I do today to stay ahead of the new requirement to better position my organization and respond to consumerism?”

With the continued focus on improving the patient financial experience throughout the continuum of care, our revenue cycle management experts at nThrive often receive a lot of questions regarding bill estimation. While it is important for staff to create and provide patients with accurate estimates, nThrive now offers an even more innovative, proactive technology to positively impacting patient satisfaction.

This webinar will cover online patient estimating using nThrive CarePricer Payment Estimator technology, demonstrating firsthand how it helps hospitals and health care organizations not only exceed price transparency requirements but also improve point-of-service collections and more. At a high level, self-serve estimating is advantageous because it is patient friendly, accurate, compliant and it also helps to increase cash flow within the revenue cycle.

Demo

In this nThrive demo, Jackie Czitrom, director of revenue cycle solutions, nThrive Patient Access Technology, demonstrations nThrive CarePricer Payment Estimator, showing how this robust price transparency technology solution empowers patients to quickly create their own accurate estimates, 24/7.

nThrive CarePricer Payment Estimator is designed to create patient-friendly estimates for consumers. This patient-facing tool allows hospitals to comply with evolving price transparency regulations and encourages patient self-service, which means less call shoppers for staff and improved patient satisfaction.

Keep in mind that 74% of consumers prefer self-service channels and 28% may change providers based on cost data. nThrive CarePricer Payment Estimator is an essential price transparency solution for health care entities and consumers due to the availability of self-service cost data.

How CarePricer Payment Estimator Works

nThrive CarePricer Payment Estimator is launched from the hospital website. It can appear as a radio (option) button, a picture or a link. When a patient clicks on the link, the hospital’s logo appears.

In this demonstration, patient “Debra” is creating an estimate in the nThrive demo hospital database. However, in a typical hospital application, the organization’s logo will appear in the upper left corner.

On the home screen of the nThrive CarePricer Payment Estimator, Debra will see some friendly links, including a help button that provides patient education on how to use the tool, a pricing button where an entire chargemaster can be loaded, exported and viewed, and a contact section, should she go astray and need help.

All disclaimers in the product are customizable.

Once Debra has agreed to the hospital’s terms and conditions, she’ll enter some basic information about her visit. The services section is searchable by description and common services have been relabeled to be more easily understood by the patient.

Debra can also look up a service by CPT code. For instance, Debra’s doctor may have given her the CPT code for a procedure such as an ultrasound of the abdomen.

Debra can also choose to go through the system’s health care solution categories. These may be categories that are already on the hospital’s website.

nThrive typically loads a minimum of the top 25 services for facility users. Medical organizations can relabel the services if they choose. For instance, a patient service that would normally be labeled a Lap Chole can be relabeled as a Gallbladder Removal so patients can more easily find the health solutions they are looking for.

Today, Debra is having an arthroscopy of the knee, so she will choose that service to add to her estimate. As we know, the estimate is a function not just of billed charges but also of the contract allowable and the benefits applied to that contract allowable.

If Debra is not insured, she can click “no” to the “Are you insured?” question, which sends her directly to the self-pay price for this estimate.

This demo assumes that Debra is insured, so she will complete her insurance information, inputting the information on her insurance card to complete this section. She is given the option to enter her subscriber number, group number and date of service, which will create her estimate based on an eligibility inquiry. When she presses “Get estimate,” her estimate appears.

The estimate includes a reference number, gross charges, any contract discounts, her allowable and applied benefits. Hospitals can remove or collapse the contract allowable, contract discount and patient responsibility fields, if they choose to. It is possible to only show the total estimated patient responsibility.

At this point, Debra can email a version of this estimate to herself, or she can print a copy. The estimate template is customizable, with the hospital organization’s logo appearing in the upper left-hand corner, along with any organization-specific disclaimers appearing at the bottom.

Debra can bring this estimate to the Patient Access office and the hospital staff can look up the estimate number in the staff-facing section of their nThrive CarePricer estimating tool. The reference number on the estimate Debra created will automatically pull up the estimate information.

Hospital staff can also find Debra’s estimate under her email address, which is captured as essential information, and they can see prior estimates Debra has created using our system.

Contact nThrive today

If you would like a personal demo of nThrive CarePricer Payment Estimator, or want to learn more about how your hospital or health care organization can benefit from this powerful price transparency technology, visit nthrive.com/contact-us/, click Sales Questions, complete the short form and our revenue cycle management experts will be in touch with you!

For more on self-serve estimating, watch our CarePricer Payment Estimator demo and read our blog, “Why self-serve estimating is integral to price transparency and consumerism.