Price Transparency

Is your compliance plan in place?

The price transparency deadline is approaching.

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…until CMS’ Price Transparency Final Rule goes into effect.
Did you know…having an action plan might be enough to demonstrate compliance?

There’s time to prepare…and we’ll help you do so.

As you’re likely aware, the Centers for Medicare & Medicaid Services’ (CMS) Price Transparency Final Rule, finalized in November 2019, requires health systems to establish, update, and make public a list of standard charges for the items and services they provide.  

While it’s been creating buzz in the industry for some time, if you’re feeling like the mandate has crept up on you, you’re not alone. Many health systems have been focusing efforts on COVID-19-related initiatives and must now pivot to prioritize their price transparency endeavors.

At SSI, we’re committed to coming alongside all clients—new and long-term—to help you avoid penalties and provide patients with the cost information they desire. There is still time to take action. See below for a few key resources to help you prepare.

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62% of patients said knowing their out-of-pocket expenses before service impacts their likelihood of pursuing care.

SSI Estimation, a two-pronged approach to price transparency.

SSI Estimation includes both a provider and a patient-specific component to ensure the price transparency needs of each are met.

Empower patients with online estimates.
The online patient estimation feature gives consumers the ability to obtain accurate, reliable estimates for common procedures via your website with just a few clicks on a computer or mobile device. Estimates created online by patients are then saved in the system, allowing front-line staff to review for appropriate follow-up and scheduling.

Deliver full-scale estimates and tailored patient communication.
The provider-specific features of the solution enable health systems to strengthen compliance and consumer satisfaction simultaneously. By modeling estimation to match clients’ payer contracts, integrating charge history, and leveraging the benefit information in the eligibility response, we produce the most accurate estimate possible for users. And we also help enhance patient communication. With custom scripting and dynamic estimate letters, what were once uncomfortable financial discussions become opportunities to collect from patients by presenting information in a clear, concise, and consumer-centric manner.

SSI Estimation Benefits:

  • Comply with CMS Price Transparency mandates for online patient estimates
  • Enhance price transparency and patient satisfaction through convenient, easily-accessible online estimates
  • Eliminate the need to generate estimates for “shoppers”, reserving valuable resources for other activities
  • Significantly increase point-of-service collections and reduce days in A/R for patient out-of-pocket responsibility
  • Improve NAHAM AccessKeys®, including POS Collections to Revenue, POS Collection Opportunity Rate, and Estimate Accuracy Rate