COUNT ON MORE WITH CAREPAYMENT
Helping you mantain compliance under the No Surprises Act
Mitigate gaps in revenue with increased patient collections.
The changes under the No Surprises Act are causing significant impacts on provider revenue due to losing their out-of-network cash flow. On top of this, providers can face a hefty amount of $10,622 in fines for each violation of the federal No Surprises Act. Multiply that fine by each time a Good Faith Estimate was missed, and providers are faced with huge hits to their bottom line.
We know the changes under the No Surprises Act are causing hospitals to lose more revenue, and make day-to-day operations that much harder - that's why we help providers collect 70% more of their aged receivables with increased patient financial engagement. With a 2x increase in overall earned revenue collections, we ensure providers get the revenue they need to continue providing high-quality care to the communities they serve.
Discover how CarePayment can transform your net collections improvement with our ROI Calculator below.
The industry’s highest financial return.
We capture more earned revenue than any other vendor, regardless of the age of receivable, delivering increased operating margin and guaranteed financial results.
2X
Increase in overall earned revenue collections
70%
Of collected revenue from receivables >60 days old
>$4 Billion
Balances processed
We're there for your patients after their Good Faith Estimate.
The No Surprises Act establishes new federal protections against surprise medical bills. For services covered by the NSA, providers are prohibited from billing patients more than the applicable in-network cost-sharing amount. The federal government estimates the NSA will apply to about 10 million out-of-network surprise medical bills a year.
Patients who are uninsured or will be paying for care without health insurance will receive a “good faith” estimate (GFE) for the cost of care before care is received. Failure to provide a GFE can result in hefty fines of $10,000+ per missed GFE, causing providers to lose money.
CarePayment can help ease some of the burdens that the NSA may cause for providers. Our patient financial engagement platform aids the provider by ensuring the patient can afford their care while providers get paid for their services rendered. Our zero-interest, affordable payment plans are available right from the Good Faith Estimate (GFE) or anytime before care for anyone who needs a long-term payment option through our Pre-Care self-enrollment program. By partnering with CarePayment, providers can financially engage more patients with patient-centered payment plans while also capturing the industry’s highest earned revenue - guaranteed.
Easily reach your patients with white-glove communication and industry-leading engagement tactics.
Maintaining clear communication with your patients around their medical bills can be costly and difficult - and changing legislation such as the No Surprises Act adds another hurdle in overall provider operations.
Managing in-house, compliant patient communications can be costly and difficult to manage. At CarePayment, our omni-channel approach covers all patient financial engagement communication for your organization, so you can focus on providing care to the communities you serve.
CarePayment’s omni-channel approach meets every patient where they are in their financial journey at the right time, with the right message, using the right tactics to increase program enrollment and payments.
See why patients prefer CarePayment to afford their high out-of-pocket medical expenses in our 2021 Member Survey.
Get more from your patient financial engagement partner under the No Surprises Act.
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Knowledge Center
Case studies, white papers, videos and tips to help providers and patients manage their total financial health.
Article
Survey Finds Consumers Still Struggle to Afford Healthcare
Nashville, Tenn., September 9, 2021 – A recent survey commissioned by CarePayment and conducted by Porter Research found that 42% of consumers delayed healthcare and…
Webinar
Four Factors Impacting Patient Financial Engagement
Presenters | Mac Boyter and Tena Hoxsie