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In today's healthcare landscape, price transparency has become increasingly important to ensure patients can make informed decisions about their care. However, many hospitals and healthcare providers struggle to provide accurate cost estimates, leaving patients in the dark about their financial responsibility.
In April 2023, the CMS released Hospital Price Transparency Enforcement Updates that will shorten the average time by which hospitals must comply with requirements after being notified of a deficiency. The CMS is also leveraging automation to complete hospital reviews more quickly and efficiently, creating more pressure on hospitals’ compliance timelines.
Adonis is stepping in to address this issue by automating the process of generating cost estimates. This innovative platform is designed to help hospitals and healthcare providers confidently comply with price transparency rules, improve patient satisfaction and trust, and reduce the risk of non-payment.
Today we will explore how Adonis is revolutionizing the healthcare industry by offering providers and patients a seamless and transparent billing experience!
Empowering Patients Through Price Transparency and Automated Cost Estimates
As healthcare costs continue to rise, patients are becoming more conscious of their financial responsibility and are seeking greater transparency from healthcare providers. Understanding this growing need, Adonis is leveraging technology to empower patients through price transparency and automated cost estimates.
Adonis's platform takes into account the provider's negotiated rate with the patient's insurance provider, checks whether the patient's insurance plan covers the visit, and calculates copays and deductibles. By streamlining this complex process, Adonis helps patients track their progress toward meeting their deductible and provides an accurate cost estimate prior to the procedure or treatment. This level of transparency enables patients to plan and budget for their healthcare expenses more effectively, reducing the likelihood of financial surprises.
Adonis’ solution not only benefits patients, but also supports healthcare providers by simplifying compliance with price transparency regulations. By automating the process of generating cost estimates, providers can focus on delivering quality care and front office staff can focus on improving the patient intake experience without the burden of manual calculations. This, in turn, leads to improved patient satisfaction and trust, as well as reduced risk of non-payment.
Adonis’s Cost Estimates solution is accessible through both a user-friendly portal and a versatile API, catering to healthcare providers with or without in-house technical support. This ensures that all providers, regardless of their technical capabilities, can benefit from Adonis's automated cost estimate solution, further promoting price transparency and fostering a more patient-centric healthcare experience.
Enhancing Patient-Provider Communication and Trust with Adonis
Effective communication between patients and healthcare providers is essential for building trust and ensuring positive healthcare outcomes. Adonis's automated cost estimates solution not only provides accurate financial information but also fosters open and transparent dialogue about healthcare expenses.
Patients are notified of their estimated costs before their procedure, and even at check-in, they are informed about the amount they will owe at check-out. This clear communication helps to set expectations and alleviate any concerns or anxieties related to healthcare costs. When patients are well-informed, they are more likely to adhere to their treatment plans, which can lead to better health outcomes and increased satisfaction with their healthcare experience.
Healthcare providers also benefit from Adonis's platform, as it eliminates the need for manual cost calculations and streamlines billing procedures. This allows providers to focus on delivering quality care, knowing that they are compliant with price transparency rules. By offering a transparent billing experience, providers can enhance their reputation and foster long-lasting relationships with their patients.
Adonis's automated cost estimates solution not only helps healthcare providers comply with price transparency rules but also enhances patient-provider communication and trust. By leveraging technology to address the financial aspects of healthcare, Adonis is contributing to a more patient-centric and accessible healthcare system.
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