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Price Transparency

Give your patients the clarity + convenience they deserve

Against a backdrop of rising healthcare costs, the consumerization of healthcare and a new CMS mandate, price transparency is the new standard for any organization. Waystar’s Price Transparency solution empowers providers to offer the modern consumer experience patients expect.

With easy to generate real-time, high-accuracy estimates, you can help your patients better understand their financial responsibility, setting the foundation for long-lasting patient relationships built on trust.

This market-tested, self-service tool generates accurate estimates in consumer-friendly terms that can help providers increase cash flow and cultivate stronger patient loyalty. When patients understand costs up front, they’re better able to plan and more likely to pay.

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What makes Waystar different

Empower patients to make informed financial decisions

List-price data, while better than nothing, doesn’t tell patients the whole story. Waystar’s Price Transparency solution lets patients easily generate more comprehensive, meaningful coverage estimates, assessing charge master data, contract rates and RPA-enhanced eligibility benefits with minimal patient input. Available in a simple and convenient format, the easy-to-understand estimates can be accessed either via mobile or web, so patients have the information they need to make educated decisions about their healthcare.

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Features + Benefits

  • Deliver a more transparent patient financial experience
  • Meet the CMS shoppable services mandate
  • Improve staff productivity
  • Reduce risk of surprise bills
  • Increase patient satisfaction
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Succeed in the new patient pay landscape

With patients becoming for more and more of their medical bills, healthcare organizations must do everything they can to give pricing information up front and offer convenient ways to pay as part of a larger patient engagement strategy.

 

Smarter coverage detection—by the numbers

162%

high-deductible health plan enrollment increased 162% in the past 10 years

146%

of patients surprised by bills, the number 1 driver of patient dissatisfaction

40%

average deductible increasing by as much as 40% per year

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Supporting a holistic patient engagement strategy

Offering price transparency is just one piece of a larger need to meet your patients where they are and give them the tools they need to be able to pay their bills. Explore the complementary solutions below that can help you focus your collection efforts while improving the patient experience.

Complementary SOLUTIONS

Patient Estimation   |   Advanced Propensity to Pay

Speak to a Price Transparency expert today

See how Price Transparency can help you collect more while driving patient loyalty. Fill out the form below, and a Waystar expert will be in touch shortly.