FinThrive Payment Estimator: HB 1314 Compliance Made Easy

Hello, my name is Robbie, product manager for price transparency solutions at FinThrive. Today, I want to share a quick overview of the new Texas House Bill 1314 and how FinThrive can help your organization.

Passed in September, this bill expands existing federal CMS price transparency mandates for Texas based hospitals, ASCs, freestanding emergency departments, and birthing centers.

Here's what it means to your organization.

You must provide a cost estimate for any non emergency service upon request for all patients, not just self pay or uninsured patients.

Patients must receive their estimate within five business days and it needs to be available by email.

Finally, the bill can't exceed the estimate by more than five percent of total charges unless there are documented complications or diagnosis changes.

At FinThrive, our cost estimate solution makes it easy to stay compliant while giving your patients the clear accurate estimates they deserve. Our solution brings together charge data, insurance benefits and patient information to deliver fast, accurate estimates in real time.

Patients can see both the total expected charges and their out of pocket costs, helping eliminate surprise bills and easing the stress that comes with unknown prices.

Once the estimate is created, it can be printed, emailed or uploaded directly into your system for easy access later.

And with FinThrive's patient facing tool, patients can generate their own estimates before scheduling, saving your staff time while giving patients the price transparency they expect.

If you're interested in learning more about FinThrive, don't hesitate to reach out. Thanks and have a great day.