Upfront cost estimates are available for most scheduled hospital-based testing and procedures through a partnership with national software company Availity. Estimates for lab work aren’t available, but Horizon said it plans to provide estimates for additional services throughout next year.
Horizon said patients may receive a 30 percent discount on their share of the fee if it’s paid before service or on the day of service. Patients who pay within 30 days of the invoice date are offered a 15 percent discount. Once 35 days have passed since the date of service, its payment partners work with the patient on a payment plan, Horizon said.
Hospital officials said the goal is price transparency before a patient receives care.
“There’s a movement within healthcare to offer pricing transparency,” said Martin Adams, CFO and vice president of finance at Horizon. “While that’s a great goal, it’s much more difficult than it sounds. A patient’s out-of-pocket costs can vary, depending on his/her particular insurance company, plan, deductibles, copays and other factors. This tool will enable us to work through all those details and provide patients with a thorough cost estimate.”
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