Charlotte, NC, May 16, 2015 --(PR.com
)-- Baptist Health, a leading healthcare provider in Montgomery, AL, launched a price estimation system to provide greater price transparency for its patients by proactively communicating their cost prior to service.
“We believe caring for patients and then sending a large bill 10 to 15 days later is not an optimal customer service practice. We want to provide our patients the opportunity to understand their financial responsibility,” said Jeri Pack, Director of Revenue Management at Baptist Health. “We also felt it necessary to offer financial assistance to our self-pay population, who may have used an emergency service and did not understand the costs prior to being treated.”
Using this system, Baptist Health’s patients can effortlessly obtain a price estimate through PMMC Estimator PRO and understand their financial responsibilities prior to service. Furthermore, the estimation system automatically applies a 40 percent discount for patients who identify as self-pay.
In addition to offering price transparency, Baptist Health is also correcting denials, underpayments, and bad debt that were in part due to the lack of existing patient financial information. Underpaid reimbursements and denied claims are now tracked with a contract management system that has identified $1.2 million in underpayments within the first three months of use.
“The calculation engine within the Contract PRO and Estimator PRO tools converts a complex calculation process into precise results,” added Jeri Pack.
The full case study on Baptist Health’s price estimation system, written by Healthcare Business Insights, is now available at www.pmmconline.com.
PMMC provides industry leading revenue cycle solutions to more than 400 hospitals and 21,400 physician clients. By finding additional cash and creating more efficient workflow processes, PMMC helps healthcare providers improve their margins so they can focus on serving their patients. PMMC is a Microsoft-certified provider and earned the Healthcare Financial Management Association (HFMA) Peer Review designation in 2013 for its Contract PRO and Estimator PRO products, meeting an objective third-party assessment of overall effectiveness, quality, and value. Visit www.pmmconline.com for more information.
About Baptist Health
Baptist Health, a not-for-profit, faith-based organization, is the largest healthcare provider in Central Alabama and exists to promote and improve the physical, emotional and spiritual well-being of the people and communities it serves. As a 2012 recipient of the Thomson Reuters Top 15 Health Systems recognition, Baptist Health has been recognized for setting industry benchmarks for excellence across the healthcare spectrum. Baptist Health is the only health system in Alabama to receive this prestigious recognition. Baptist Health employs more than 4,100 employees and is affiliated with more than 450 physicians. Visit www.baptistfirst.org for more information.