ATLANTA, GA. (January 12, 2022) – Panda Health Inc., the digital health marketplace company, today announced the launch of a new solution category, Financial Clearance and Price Estimation, featuring industry leader AccuReg® as the first awarded supplier in this category. Technologies in this category help providers prevent denials, combat staffing challenges, improve patients’ financial experience, deliver trusted price estimates and maximize net revenue.
“We are so excited to bring AccuReg to our marketplace at a critical time for healthcare when needs for efficiency, cost transparency and digital accessibility for patients and consumers is at an all-time high,” said David Harvey, CEO of Panda Health. “AccuReg’s innovative solutions help hospitals combat staffing challenges by automating and streamlining staff workflows and reducing unnecessary and costly rework.”
AccuReg EngageCare® Provider offers a full suite of front-end revenue cycle management solutions that help combat staffing challenges by giving patient access teams the tools to ensure the data integrity needed to prevent denials, rework and bad debt write-offs. By combining an exception-based workflow, a registration quality assurance rules engine, intelligent eligibility and benefit validation and prior authorization management, AccuReg predicts and prevents denial-causing issues at the front of the revenue cycle where it costs significantly less.
At the core of the EngageCare platform is a sophisticated rules engine that uses automation and artificial intelligence, including robotic process automation (RPA), predictive analytics and machine learning, to identify and prevent issues and errors at the revenue cycle front-end that cause rework, inefficiency and denials.
These front-end protective measures are critical to generating accurate cost estimates that align with price quotes. Predictive technology assesses patients’ propensity to pay, and staff are provided scripting to either collect payment in full or guide patients through any qualifying financial assistance options, including payment plans and charity care.
Review a one-page overview of Panda’s Financial Clearance and Price Estimation category.
To launch this category, Panda evaluated a wide variety of suppliers based on their ability to meet or exceed outcomes in price estimation and financial clearance. AccuReg solutions help combat staffing challenges and prevent denial-causing errors by producing error-free patient registrations and delivering accurate cost estimates and financial clearance using:
Quality Assurance and Eligibility Verification: Automatically audits 100 percent of patient registrations for hundreds of types of errors and verifies service-level benefits to prevent denials and improve staff efficiency by providing an exception-based workflow with intelligent alerts that include instructions for resolving issues
Authorization Management: Uses a single interface to identify need, facilitate submission and retrieve response for all payers and all service lines using automated and technology-enabled services
Price Estimation and Payments: Staff and patients generate accurate estimates of out-of-pocket costs, enabling providers to improve pre-service revenue capture using integrated one-touch payments
Price Transparency: Exceed price transparency compliance with self-service price estimation and machine-readable file to avoid fines, increase pre-service revenue and satisfy patients
“Partnering with Panda accelerates our ability to bring a patient-centered front-end approach to the revenue cycle for hospitals and health systems with the vision to lower costs, combat staffing challenges, maximize revenue from patients and payers, and improve the patient experience,” said Paul Shorrosh, AccuReg Founder and CEO.
To learn how you can adopt market-leading Financial Clearance and Price Estimation solutions, reach out to Panda at growth@panda.health.
About Panda Health
Panda Health is a marketplace that transforms how health systems discover, procure, and implement digital innovations that make life better for consumers. Formed in 2020 as an independent company, Panda was founded through a partnership between three leading health systems, CentraCare, Gundersen Health System, and ThedaCare, with the development and investment firm Fitzroy Health. Panda has several digital health categories available on the marketplace today, including Digital Virtual Assistants, Digital Wayfinding, Financial Clearance and Price Estimation, Patient Financial Engagement, and Unified Patient Messaging with new additional categories opening regularly.
About AccuReg
AccuReg, the market leader in patient access, provides health systems, hospitals and large clinics with a single platform that integrates patient access, intake and engagement and enables healthcare consumerism, the consolidation of vendors and increased net revenue. AccuReg EngageCare offers patients intuitive digital tools allowing them to complete error free pre-registration and registration, access a digital front door and virtual waiting room at check-in, make payments from accurate price estimates and communicate bi-directionally in real time. EngageCare delivers the data integrity required to eliminate denials, collections and write-offs, and protects the revenue cycle from errors. EngageCare provides patients the digital experience they expect and positions customers as leaders in their markets. AccuReg has offices in Nashville, Orlando and Mobile. AccuRegSoftware.com
