Beaverton, Oregon (PRWEB) December 18, 2013
Provider Advantage NW, Inc, a Beaverton, Oregon, based developer of the Revenue360® hospital revenue cycle management software platform announced that it has executed an agreement with Robert Wood Johnson University Hospital Hamilton to implement the Revenue360 Pricing Estimation module.
Robert Wood Johnson University Hospital Hamilton is a long-time user of the integrated Revenue360® Eligibility Verification module. They recognized that they could efficiently add Pricing Estimation, integrated with their existing Eligibility Verification solution, simplifying the process of calculating, communicating and collecting on credible patient estimates.
One of the central issues of pricing transparency for healthcare providers is to provide a clear concise estimate of a procedure’s pricing for the patient prior to service. Even more important is the ability to explain the patient’s an out-of pocket portion of this cost. This helps the hospital better communicate with patients while properly setting accurate payment expectations.
Creating this price estimate is difficult for the healthcare provider because they must combine actual experience with complex and transitory data into a single cost figure for the patient.
Revenue360 Pricing Estimation, in combination with the Eligibility Verification module, will make it possible for the staff at RWJ to deliver timely, credible estimates to any patient with the insurance plans they contract with. Additionally, they will be able to provide estimates for uninsured patients by setting up a self-pay contract which calculates the out-of-pocket expected payment responsibility while taking into account any applicable discounts.
“Provider Advantage’s eligibility solution has helped us to increase upfront collections by identifying co-pays and deductibles for over ten years. We are excited to add the Revenue360 pricing estimator solution to better communicate the patient’s total expected payment responsibility. This will help address pricing transparency by preparing our patients in advance, setting up payment plans where needed and ultimately improving our point-of-service collections process,” says Danielle Pieloch, Director of Patient Access for Robert Wood Johnson University Hospital Hamilton. “It was natural that we would choose the Revenue360’s Pricing Estimator to integrate with our current processes, given the success of our eligibility experience with Provider Advantage .”
“We appreciate Robert Wood Johnson’s loyalty and confidence in Provider Advantage and Revenue360,” says Edward L (Ted) Tomkins, President of Provider Advantage NW, Inc. “We look forward to helping them meet the pricing transparency needs of their patients and collect even more over the next ten years.”
About Robert Wood Johnson University Hospital Hamilton:
RWJ University Hospital Hamilton is affiliated with Robert Wood Johnson Health System and provides a network of comprehensive healthcare services that includes hospital care, prevention and wellness, primary and specialty medical services and diagnostic & treatment services in the community. The hospital treats over 200,000 patients annually from a six-county New Jersey area (population 650,000), including: Mercer, Bucks, Burlington, Middlesex, Monmouth and Ocean.
Learn more: http://www.rwjhamilton.org.
Revenue360 helps hospitals GET PAID FASTER! By integrating public data into the hospital’s workflow, Revenue360 leads staff to higher point-of-service collections and prevents common errors, resulting in cleaner claims.
Providing customized guidance based on your business rules, Revenue360 simplifies complex processes including: insurance coding, eligibility verification, authorization and precertification, address and demographic validation, medical necessity, pricing estimation, payment assessment, e-cashiering, medicaid and charity assessment and claim status.
Revenue360 reduces rework, increases and accelerates total revenue, and improves customer satisfaction through better patient communication.
Learn more: http://www.Revenue360.net
Provider Advantage and Revenue360® are trademarks of Provider Advantage NW, Inc.
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