Establish firmer trust between patients and providers through automated or manually generated cost estimates based on the practice’s actual payer contracts. Rivet’s patient payment estimator targets where the patient is at with insurance deductible and out-of-pocket maximum to ensure accuracy. Send estimated costs to patients via HIPAA compliant text and/or email links to enable pre-collection efforts. Create templates based on items and services the practice regularly offers to run automatic insurance eligibility and patient cost estimation before appointments so the practice can spend less time enhancing revenue.  

The Rivet patient payment estimator allows practices to comply with federal Good Faith Estimate requirements of the No Surprises Act for insured, uninsured, and self-pay patients. Federal guidelines require practices to offer patient out-of-pocket estimates for uninsured or self-pay patients before care or upon request. With Rivet, anyone at the practice can easily discuss costs with patients and set up payment plans. Pre collect and track prepayment through HIPAA compliant links sent via email or text message.

Statistically, the longer a healthcare bill goes unpaid the less likely the practice will receive some — if any — payment. The cost of a collections agency can dramatically decrease payment amount and bills usually end up in write-offs. Pre collection is the most efficient way to collect patient out-of-pocket payment. Through Rivet’s patient payment estimator, practices can accurately predict cost of care, as well as send and collect payment prior to patient visits.

Accurate estimates occur when practices have copies of their payer contracts and fee schedules, verify eligibility and calculate cost based on individualized factors such as deductible and out of pocket remaining. Rivet’s patient payment estimator specializes in individualized factors and suggests billing edits to guide practices to create accurate patient estimates. For uninsured and self-pay patients, the federally mandated No Surprises Act requires that the actual cost is no more than $400 greater than the estimated cost of care (see Notice and Consent for exceptions). Rivet offers accurate estimates and an audit trail in case of an independent dispute.

Rivet RCM software is currently used by practices from a few providers to hundreds of providers throughout the United States, including Alaska and Hawaii. Smaller practices love the amount of time saved and tasks that can be performed. Larger practices and health systems love Rivet for overall analytics that give deep insight into all their locations, both individually and collectively. Both small and large practices love Rivet for the patient payment estimator (for accurate precollection), denials prevention, payer contract management, negotiation preparation, and underpayment detection tools.