Patient Cost Estimator drives cost transparency

With Estimator, Gistia helps your laboratory meet patients earlier in the revenue cycle.

Introducing Estimator

Laboratories need new solutions that enable consumer choice by:

  • Offering pre-service cost estimates
  • Educating patients about choices for in or out-of-network care
  • Providing guidance on prior authorization
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Meet demand for cost
transparency

Across the healthcare industry there’s movement towards greater cost transparency. Patients want to understand what they’ll be paying for services, including laboratory testing.

The market has been moving in this direction for years, and now new regulations like the “No Surprises Act” will accelerate the shift. These market shifts offer both challenges and opportunities for the laboratory industry.

Improve laboratory revenue collection

The benefits of implementing new tools aren’t just for patients. By meeting the patient earlier in the revenue cycle, laboratories can:

  • Collect payment from patient pre-service
  • Enable payment flexibility prior to submitting claims
  • Reduce patient and provider friction from “surprise” bills and balance bills
  • Reduce the lag in revenue and the cost of collection services
  • Maximize liquidation in a compliant manner

 

About the No Surprises Act

On January 1, 2022, the US Department of Health and Human Services will begin implementing the “No Surprises Act.“ This legislation aims to reduce the surprise bills patients receive for out-of-network and emergency care. Its first phases will primarily affect health plans and hospitals, providing patients with good faith estimates for out-of-pocket costs, requiring consent for out-of-network services, and protecting people from surprise bills.

Read more about the legislation from Health and Human Services and Health Affairs, or download the AHA’s detailed summary.