Software estimates healthcare costs.
Share:
Press Release Summary:
HTP EstimatorSM helps estimate patient charges at the point of service by combining eligibility information from payers with information related to hospital pricing contracts. Accurate calculation of patient's share of costs allows hospitals to collect payments or arrange payment schedule prior to service delivery. HTP Estimator is offered as stand-alone module or as part of HTP RevRunner suite of Revenue Cycle Enhancement software.
Original Press Release:
HTP Enhances RevRunner Suite with Healthcare Point of Service Collection and Patient-Friendly Billing Solutions
HTP Estimator Designed to Improve Patient Satisfaction, Enhance Revenue and Answer Calls for Pricing Transparency
COLUMBUS, Ohio, Oct. 17 -- As part of its commitment to developing landmark revenue-cycle-enhancement products for the healthcare industry, HTP, Inc. today announced the addition of HTP EstimatorSM to its HTP RevRunner(TM) suite. Developed through a technology partnership with Financial Healthcare Systems, LLC (FHS Co.), the new module provides a powerful tool for calculating patient financial responsibility at the point of service - meeting and exceeding proposed federal mandates for pricing transparency.
"HTP Estimator fulfills best practices for patient-friendly billing by providing consumers with upfront estimates of their healthcare costs," said HTP CEO Ray Shealy. "It also answers government and healthcare industry calls for a comprehensive technology solution that educates patients about the costs of their medical care at the time of service."
Pricing transparency has become a key issue of discussion among federal and state government agencies. President Bush recently signed an executive order requiring federal government agencies that pay for health care to compile information about the quality and price of care and to share the information with their customers.
HTP Estimator is the first commercially available product to combine comprehensive eligibility information from payers with detailed information related to hospital pricing contracts to estimate patient charges. By integrating hospital contract data with real-time information from payers, it accurately calculates the patient's share of the cost, allowing the hospital to collect payment or arrange a payment schedule prior to service delivery.
HTP Estimator employs technology obtained through a partnership with FHS Co., a developer of pricing transparency and patient-friendly billing solutions based in Denver, Colo.
"FHS has chosen to partner with HTP because of its cutting-edge technology to capture and validate insurance eligibility, verify patient addresses and automate the process of enrolling patients in charity care and financial aid programs," said FHS Co. President Travis Gentry. "Together, we deliver a solution that enables providers to improve overall patient care and increase net revenue."
"We at HTP are very excited about this partnership with FHS," Shealy said. "It brings new opportunity to both of our businesses by offering a critical new service to our customers. We expect that HTP Estimator will further accelerate adoption of our HTP RevRunner suite, which is being used by more than 100 hospitals across the country."
HTP Estimator is available as a stand-alone module or as part of the HTP RevRunner suite of Revenue Cycle Enhancement software. HTP RevRunner is a comprehensive, automated solution that enables healthcare providers to verify insurance eligibility, monitor the status of claims, identify appropriate ways to manage patient payments and estimate patient financial responsibility. As a result, it increases a provider's overall net revenue and accelerates reimbursement by improving up-front cash collections and reducing denials.
About HTP, Inc.
HTP develops award-winning software for the healthcare industry that improves efficiency, profitability and service quality for hospitals, insurance companies, physician groups, managed care organizations, third-party administrators and Regional Health Information Organizations (RHIOs). Based in Columbus, Ohio, HTP supports more than 170 customers, including 110 hospitals and 48 health plans, in more than 25 states. Notable HTP customers include Ohio Medicaid, The Midland Group, Community Memorial Hospital - CA, OhioHealth, Redlands Community Hospital, The Ohio State University Medical Centers and the Utah Health Information Network (UHIN), the nation's first successful RHIO.
For more information on HTP or to learn how its software is transforming healthcare information exchange for providers, payers and RHIOs, call 614.885.1272 or go to htp-inc.com.
About FHS Co.
FHS Co. enables healthcare providers through software aimed at price transparency and patient consumerism. Hospitals, surgical centers, and physicians use the ACE Logicus(TM) software to estimate how much a patient owes at or before the time of service.
Source: HTP, Inc.
Web Site: http://htp-inc.com/
