Price transparency is no longer just a regulatory requirement in healthcare — it’s a cornerstone of patient trust and satisfaction. With evolving mandates like the No Surprises Act and rising patient expectations for clear, upfront healthcare costs, organizations must adapt quickly to stay compliant and competitive. Still, it remains challenging to ensure accurate, real-time estimates that empower patients while also streamlining financial operations.
The New Standard: Empowering Patients Through Transparency
Patients now expect to know what they’ll owe before they receive care. Transparent, tailored cost estimates are essential for empowering informed care decisions, allowing patients to better plan and budget for their care while avoiding surprise bills. Open financial communication also helps foster stronger patient-provider relationships and a better care experience, which promotes long-term patient retention.
For uninsured or self-pay patients, delivering these estimates is also now a legal requirement, and it’s important for healthcare to maintain compliance with current transparency regulations.
How Epic’s Patient Estimates Tool Can Help
Epic’s Patient Estimates tool is designed to meet the demands of price transparency in modern healthcare. Seamlessly integrated into the revenue cycle, it delivers timely, accurate out-of-pocket cost projections by leveraging:
- EHR integration: Uses patients and payers' historical data to calculate tailored estimates and allows for advanced payment arrangements.
- Real-time calculations: Provides estimates based on scheduled services, insurance eligibility, and billing history.
- Customizable parameters: Allows organizations to fine-tune estimates based on unique payer contracts and billing configurations.
- Automation: Reduces the risk of human error and enables quick communication.
Keys to Successful Implementation
Implementing Epic’s Patient Estimates tool can transform your organization — but success depends on thoughtful planning. Providers should keep the following best practices in mind during the implementation process:
- Maintain data accuracy: Routinely validate insurance and patient benefit information.
- Provide staff training: Equip teams to confidently deliver and explain estimates.
- Enable continuous improvement: Regularly review and refine estimate parameters.
- Offer clear communication: Clearly explain to patients how estimates are calculated and provide support channels for questions.
How BDO Can Help
BDO’s healthcare professionals are uniquely positioned to help you realize the full potential of Epic’s Patient Estimates tool. We assess your current patient interaction and technology and develop tailored strategies for seamless integration. Our team works closely with you to refine operational processes, enhance patient satisfaction, and strengthen financial workflows. With BDO’s guidance and Epic’s powerful technology, you can deliver the clarity, confidence, and care your patients deserve — while maintaining operational excellence amid changing regulations.
Looking to navigate ever-changing price transparency requirements? Contact us to get started with Epic’s Patient Estimates and take the next step to offering more transparent care.