PANACEA to Present Education Session on Demystifying Good Faith Estimates at HFMA Virtual Workshop Event in January.
ST. PAUL, MINNESOTA.– To guide healthcare providers to comply with the new regulations relating to Good Faith Estimates as part of the No Surprises Act that went into effect on January 1, 2022, Panacea Healthcare Solutions, Inc., the leading experts in hospital, physician, and pharmacy price transparency services, will sponsor the Healthcare Financial Management Association (HFMA) three-part series on the No Surprises Act billing regulations in January.
As part of the series, Govind Goyal, PANACEA Executive Vice President of Financial Services and Revenue Integrity, will present “No Surprises Act: Demystifying Good Faith Estimates” on Monday, January 24, 2022, at 11:00 AM CST. The workshop will take a deep dive into the components necessary to identify all items and services to help providers and facilities navigate the Good Faith Estimate (GFE) requirements for self-pay and uninsured individuals. The 50-minute presentation will include a live 30-minute Q&A session following the workshop.
“Unlike a single estimate that is required with a patient estimation system, the good faith estimate requires line-item expected charges provided in conjunction with the primary scheduled service(s), including those services that may be rendered by co-providers. That’s a data requirement most facilities and providers find unsettling to comply with because a sophisticated analysis of historical claims data is required, and new systems and procedures will need to be put in place. We look forward to guiding our attendees through this process,” said Goyal.
The presentation will outline a strategy and the actionable plan required for each good faith estimate. The attendees will learn to develop a good faith estimate that encompasses an all-inclusive itemized list of charges, will compare compliant and non-compliant good faith estimates, will explore common pitfalls and trapdoors in building good faith estimates to prevent unnecessary challenges for your team and organization, and will identify hidden revenue and other strategic opportunities in your journey to comply with the No Surprise Act provisions.
The workshop is complimentary for HFMA members and $140 for non-members. Click here to register.
About Panacea Healthcare Solutions, Inc., a BESLER Company:
PANACEA helps healthcare organizations improve their coding, compliance, and data and revenue integrity with front-line expertise in mid-revenue-cycle management. Designed for healthcare professionals responsible for financial performance or compliance, PANACEA delivers innovative auditing, compliance, chargemaster, strategic pricing, and revenue integrity consulting and software solutions as a single-vendor solution to help their clients proactively identify risks and opportunities and overcome today’s challenges, providing the clear answers needed to swiftly and cost-effectively achieve quality results. More information is available at panaceainc.com.
