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Patientco® Expanding Capabilities of its Patient Financial Engagement Platform to Support Compliance with No Surprises ActPatientco, a next-generation patient payment technology company, is expanding the capabilities of its patient financial engagement platform to support compliance with the No Surprises Act, which will take effect January 1, 2022. Patientco's financial engagement platform will help health systems intelligently identify patient bills that do not pass specified regulatory, compliance, and health system policy checks. By doing so, the platform will reduce the likelihood of health systems inadvertently sending balance bills to out-of-network patients, per the requirements of the new rule. The No Surprises Act aims to protect patients from receiving surprise medical bills - especially in situations where patients have little or no control over who provides their care. The rule states that healthcare providers who are treating patients for emergency services will no longer be able to bill an insured patient for more than in-network rates, even if the services provided are out-of-network. In addition, outside of emergency services, out-of-network providers who are providing healthcare services at in-network facilities will no longer be able to bill an insured patient for more than in-network rates, unless the patient consents at least 72 hours in advance. Failure to comply with these requirements can result in up to a $10,000 fine per violation. Blending robust technology with thoughtful design, architecture, and feature-rich capbilities, Patientco's patient financial engagement platform will empower health systems to bring more transparency to patients throughout their healthcare experience. The platform will help ensure patients are consistently billed fairly and accurately for non-emergency services provided by out-of-network providers at in-network facilities, emergency services provided by out-of-network providers and facilities, and air ambulance services. "The No Surprises Act is a step in the right direction and will help reestablish patients' trust in America's healthcare ecosystem," said Bird Blitch, Chief Executive Officer and co-founder of Patientco. "We remain committed to empowering health systems to swiftly respond to emerging regulatory requirements and deliver improved patient experiences. By adopting patient financial navigation solutions like ours, health systems have the opportunity to ensure they are in compliance now, well before the law rolls out in a year." In March 2020, Patientco expanded the capabilities of its patient financial engagement platform to provide COVID-19-related system checks to identify and suspend bills that would otherwise be sent to patients who had received treatment for the Coronavirus. This ensured health systems were compliant with the rules introduced by payers as well as state and federal agencies to protect COVID-19 patients from being billed for care. Today, health systems are using Patientco's platform to prevent inadvertent bills from being sent to patients who just received a COVID-19 vaccine. Patientco's ability to empower health systems to swiftly respond to emerging regulatory requirements, such as the No Surprises Act and policy changes related to COVID-19, demonstrates the company's unwavering focus on client success. Learn more about the unique compliance requirements the No Surprises Act will pose for health systems here: https://www.patientco.com/blog/no-surprises-act-compliance/. About Patientco: Patientco is the only vertically-integrated payment technology company that was founded specifically to rethink the patient payment experience in healthcare. We provide greater connectivity, advanced analytics and more, so that health systems only need one patient payments partner and technology platform. Given the comprehensive nature of our platform, Patientco improves financial care across the entire patient journey, from pre-service to post-service, while increasing payments and revenue for today's top health systems. Patientco is making healthcare better one payment at a time. To learn more, email [email protected], visit www.patientco.com or connect on LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210125005099/en/ |
