About Us
The eobQuote™ Patient Payment Calculator was developed in 2009 to assist a prominent Virginia retina specialty practice in collecting patient-owed amounts at the time of service. Trends in healthcare reimbursement by third-party payors, whether governmental or private, reveal that an increasing portion of the financial obligation for a consultation and/or treatment has been shifting to the patient either through higher deductibles or co-insurance amounts.
Patients have long been accustomed to paying their co-payments at the time of service. Collecting patient-owed funds after the time of service presents a variety of challenges and is expensive. Multiple billings to the patient initiated after an explanation of benefits has been issued by his/her insurance company is both costly and difficult to collect. So why not calculate and determine the explanation of benefits on the front end and collect the predicted balance at the time of service?
The eobQuote™ Patient Payment Calculator was created to do just that.
Through the course of two years of in-clinic product testing the eobQuote™ Patient Payment Calculator, it became apparent that both the resulting infusion of cash flow into the practice and the reduction in days sales outstanding (DSO) were phenomenal. Moreover, patients quickly came to value knowing what their insurance coverage would and would not provide. To have an understanding of and to be able to settle their financial obligation in advance of a visit or procedure is something that patients have greatly appreciated.
Although the eobQuote™ Patient Payment Calculator has been designed to meet the specific needs of one specialty practice, its usefulness to various providers across the spectrum of health care is undeniable.
In 2011, eobQuote, LLC was incorporated as a Limited Liability Corporation in the Commonwealth of Virginia. Our mission is to provide our customers with a solution that not only enhances cash flow and decreases accounts receivable, but also increases patient satisfaction by clearly outlining financial obligations and collecting at the time of service.
We look forward to the opportunity of working with you in achieving these results in your healthcare setting.
