With the current state of the healthcare industry and healthcare insurance, it is imperative for hospitals to be able to instantly produce such accurate, verifiable and consistent estimates to their potential patients. However, pricing individual services (by code or specific task) is of little or no value due to the very nature of the variables inherent in treating a patient. In order to make a valid estimate, information on the total cost of the entire patient visit for a given diagnosis or condition is necessary to accurately predict patient costs.
VitalEDI CE takes the whole patient bill into account in order to make sure that the most accurate estimate is provided. However we don't just create an imaginary patient bill, VitalEDI CE is able to quickly and efficiently search through myriads of records in order to ascertain which patient visits are of use in compiling the estimate. The result is a data-driven, defensible patient charge estimate tailored to your facility.
In addition to allowing you to collect an accurate percentage of expected cost at registration, an accurate up-front estimate provides many benefits to your facility as well as the patients who visit you. By helping patients understand their potential financial responsibility before treatment, those that elect to receive treatment are statistically more likely to make payments at the time of service. Thus, the VitalEDI CE product encourages patient payments and helps reduce bad debt.
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