Preparing Your Organization for Patient Self-Directed Estimating

The smart way to comply with the new CMS 1694-P Price Transparency Ruling, Effective January 1, 2019.

Hospitals have less than 55 workdays remaining in which to comply with the new CMS Price Transparency Ruling (No. 1694-P).  While publishing your charge data master on line (i.e., your CDM fee schedule) is one option, there are better alternatives. 

This webinar will look at how utilizing VestaPay’s Patient Self-Directed Price Estimator provides a three step process to ensuring patients have the most accurate estimate of a planned treatment as possible, while also giving your hospital for the first time the ability to engage, retain and expand your patients enrollments for outpatient and inpatient treatments.

  1. Patients are able to easily identify the treatment type to be estimated.
  2. The Patients insurance information is used to identify the appropriate hospital contract and adjust the gross charge numbers including rendering physician specific charges to the hospitals’ contracted rate.
  3. The Patients real-time benefit screening is used to finalize the net out-of-pocket charges for the patients planned treatment.

It is important to avoid scaring patients away by presenting gross, unadjusted charges as you would be doing by publishing your CDM.  Offering your patients an alternative that gives them a highly accurate estimate while still complying with the ruling should be your top priority.

Combining this estimator with VestaPay’s bi-directional patient outreach technology builds your patient engagement and retention, resulting in increased revenue for your hospital.

We’ll end this webinar with a fast-paced Q&A session. Remember, you only have 55 days remaining to comply with 1694-P. Join us to learn how VestaPay can help you do this the smart way!”

Date: On-Demand

Time: On-Demand

Featuring: Tom Brekka, CEO, VestaCare, Inc.; Ray Chase, VP National Accounts, VestaCare, Inc.

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SPEAKERS

Tom Brekka, CEO, VestaCare

Tom Brekka has thirty years’ experience leading and managing high tech companies serving the healthcare industry.  He has raised a combined $45 million in private and corporate investment capital across those companies. Having founded VestaCare in 1999, Mr. Brekka leads the business development and product innovation planning for the Company.   Mr. Brekka spearheaded the launch of VestaCare’s newest product, “VestaPay”, which is a Patient Payment Management solution helping hospitals avoid losses due to the major shift in revenue from Payor to Patients and to enable patients to better afford their healthcare.

Ray Chase, VP of National Accounts, VestaCare

Ray has over 25 years of revenue cycle experience and is a recognized subject matter expert. He comes to VestaCare after his recent engagement with Catholic Health Initiatives (CHI).   At CHI Ray served as the VP of Revenue Cycle where he had operational oversight over 9 of the 16 hospitals in the Texas Division of CHI.  Prior to CHI, Ray managed the Revenue Cycle functions for three years at the Seha’s Al Ain hospital in Abu Dhabi.  Ray led this hospital to become the best financially performing facility of all hospitals in the city of Ai Ain.