Patient Estimates
Fix it with HST’s patient estimates and HST Patient Financial Services.
Anesthesia providers are historically the last to get paid in the surgical process and lack visibility into crucial case information like patient data, case costs, and claims. With HST’s patient estimates, that is changing!
HST’s patient estimates offers Anesthesia Groups a connected platform that enables access to estimation and collections built for their unique challenges. Coupled with HST Patient Financial Services, Anesthesia providers are now taking a proactive approach to their patient payments process.
Allied Anesthesia Modernizes Their Approach to Pre-Service Payments With HST’s Patient Estimates
It frees up your staff to go on to other higher revenue generating tasks and it gets that money in the door prior to surgery.
HOUSTON LANDRY
COO, Allied Anesthesia
The Problem
Low self-pay collection rate
No access to patient data pre-service
Inefficient data collection process post-service
Denials and delays in closing accounts
Unable to provide patients with estimates
98% estimate accuracy
80% electronic patient engagement
35% of patients pay in advance
Improved stakeholder satisfaction
Verified data for clinical and financial systems
Compliance with No Surprises Act
98% estimate accuracy
80% electronic patient engagement
Improved stakeholder satisfaction
Verified data for clinical and financial systems
35% of patients pay in advance
Compliance with No Surprises Act
Why use HST’s patient estimates?
Pre-Service Collections
Post-Service Collections
Time to Close Accounts
Follow-up Billing Costs
Reduced Denials
Data Provision
Stakeholder Satisfaction
Compliance
Pre-Service Collections
Based on the data at six ASC focus sites for a national anesthesia group, the average monthly patient responsibility was $25,454 per month. The group reported last year a self-pay collection rate of 22%. Our automated system achieved 30% upfront collections, or $7,632 per location, versus no upfront payments before HST’s patient estimates..
Post-Service Collections
Studies have shown that patients who understand their financial responsibility in advance are more likely to pay post-service versus those who were not made aware.
Time to Close Accounts
Upon implementing HST’s patient estimates, a large national anesthesia provider reported that the average time to close patient accounts was reduced from 90 to 30 days.
Follow-up Billing Costs
Based on the national average of 30% of patients paying pre-service, anesthesia groups typically save an additional $31.28 in statement costs and $57.12 in collection fees, or $88.40 per patient, not including staff time or third-party agency fees.
Reduced Denials
Clean claim rates improve based on HST’s patient estimates verification of all patient insurance information and coverage in advance of service.
Data Provision
Our anesthesia providers value the electronic patient and case information we provide in advance of service to drive their clinical, scheduling, and financial systems. Integration costs are reduced, and data entry errors eliminated.
Stakeholder Satisfaction
Surgeon, facility, and patient satisfaction increases, supporting the anesthesia group’s position as a patient-focused business partner. The patient feedback is overwhelmingly appreciative of the effort to educate and inform them about their anesthesia bill.
Compliance
The anesthesia group will be in full compliance with the No Surprises Act and current state level requirements as part of our guaranteed compliance when using HST’s patient estimates. Our Co-Provider Inquiry screen also supports convening providers with anesthesia estimates upon request.
Helpful Resources
This Week in Surgery Centers: Hal Nelson – Revenue Optimization Strategies for Anesthesia Providers
This Week in Surgery Centers: Dr. Kenjarski – Optimizing Case Scheduling for All Stakeholders
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