Waystar Price Transparency
Price transparency is a perennial issue in healthcare. When patients don’t know in advance what they will owe, it can cause them to avoid care or be unable to pay after point-of-service. This results in patient dissatisfaction and makes it difficult for providers to collect payment. As an added challenge for providers, CMS has mandated that hospitals publish meaningful price information for patients.
Waystar offers provider- and patient-centric solutions, Patient Estimation and Price Transparency, that integrate financial and benefit data to provide accurate patient estimates. Together, these two solutions can help your organization improve collections and deliver a better patient experience.
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A clearer view of financial responsibility
86% of consumers prefer to get pricing information from a provider as opposed to an insurance company. Waystar’s HFMA Peer-Reviewed Patient Estimation solution sources best-in-class benefit information to generate highly accurate estimates. Providers can then share these estimates with patients prior to rendering service. Key benefits include:
- Automated and accurate custom patient estimates
- AI and RPA-powered technology that retrieves enriched benefit data
- Seamless integration with your registration system
- Real-time user alerts, such as supplemental coverage or HRAs
- Analysis against adjudicated claims to further improve accuracy rates
Leveraging Waystar’s Hubble AI, Patient Estimation unifies multiple data inputs to create the most comprehensive and accurate patient estimates in the marketplace. That means your staff can confidently discuss costs up front and drive greater patient loyalty and satisfaction.
Give your patients the price transparency they deserve
Empower your patients to make informed healthcare decisions with Waystar’s Price Transparency solution. This market-tested, self-service tool generates accurate estimates in consumer-friendly terms and offers additional benefits when paired with our Patient Estimation solution.
The Price Transparency tool can be deployed on your patient portal or website, giving patients a web and mobile-friendly price shopping experience. Key benefits include:
- Real-time patient-generated estimates for most shoppable procedures
- Requires minimal patient input to retrieve complete out-of-pocket details
- Intuitive scheduling and financial assistance tools
Prevent delay of care while staying competitive and adaptable to market needs. Work with Waystar to give your patients the information and level of service they deserve.
Combining patient + provider solutions
Together, Waystar’s Price Transparency and Patient Estimation lay the groundwork for better patient engagement and strengthen front-end collections. View our on-demand solution presentation to learn more.
Improve your patient experience
Discover even more ways to improve your patient experience while collecting faster and more fully. Healthcare organizations across the country are seeing success with our Price Estimation and Patient Transparency solutions, together with our other innovative solutions below:
See why Waystar is leading the industry in transforming the financial journey for patients and providers alike.