Orthopeadic Practice Launches Patient-Centric Estimations — Increasing Self-Pay Collections
By Blakely Roth | February 26, 2025
Concord Orthopaedics, a leader in orthopaedic care across New Hampshire, implemented a patient estimations strategy in response to Good Faith Estimate regulations from the No Surprises Act. By adopting Clearwave and Rivet Health technology, the multi-location practice streamlined financial transparency and collection processes, resulting in significant efficiency and revenue improvements.
About Concord Orthopaedics:
- Practice Management System: athenaPractice
- Number of Locations: 12
- Number of Providers: 50
- Monthly Patient Volume: 9,000
The Experience & Revenue Challenge
With over 9,000 patients monthly and new federal regulations, Concord Orthopaedics faced the dual challenge of improving financial transparency for patients and managing staff shortages. Previously, their reliance on manual processes led to inefficiencies and hesitation in collecting payments.
“Our goal was to allow the technology to handle the finances of healthcare, so our staff can focus on patient care,” said CEO Jennifer White.
The practice wanted to invest in digital solutions that would simplify estimations, rather than rely on staff to contact insurance payers and rush to capture compliant and timely estimates.
Beyond compliance, patient transparency and education were also top-of-mind. Patient healthcare costs can come at unexpected times, especially in a field like orthopaedics. Concord’s goal was to help patients understand their self-pay responsibility in a simple way, with enough time to plan accordingly. White shares, “Transparency makes the conversation of finances easier for patients and staff to discuss. It truly helps the process run smoothly.”
The Patient-Centric Solution
Concord Orthopaedics implemented a revenue-driving estimations strategy using Rivet Health’s estimations platform and Clearwave’s insurance verification and registration solutions. By integrating with the practice’s patient management system (PMS), Clearwave can run scheduled appointments through real-time eligibility checks to determine a patient’s insurance eligibility and deductible.
Next, Clearwave sends insurance information to Rivet Health, where patient responsibility is calculated. White shares, “With almost a click of a button, we get our patient’s eligibility confirmed, deductible balance and what their out-of-pocket responsibility will be for their visit. Then, we get that information to the patient.”
Once patients receive their estimation notification, they can review and plan accordingly. White shares, “Our goal was to get this info to the patient through reminders, so the patient can pay for their services prior to their appointment, through the kiosk at check-in.”
The Clearwave & Rivet Health Impact
The estimations process has transformed Concord’s collections and patient engagement processes. The integration of Clearwave and Rivet led to a 22% increase in self-pay payments, with 53% of their growth directly attributed to the estimation strategy.
White shares the success of their hands-off approach saying, “Technology has been more successful in estimating and collecting patient payments than manual efforts. Patients are more inclined to pay when they understand their responsibility and are prompted to pay through private, self-service check-in.”
Patient-Powered Results Combined from Clearwave & Rivet Health
- 22% Increase in self-pay payments
- 53% Of the self-pay collection increase resulted from estimations
- 67% Payments processed within 24 hours
- 9% Decrease in patient bad debt
- $179K recurring annual savings from FTE reduction (five down to one FTE)
Fuel Profits with Clearwave and Rivet Health
Maximize up-front patient payments. See how Clearwave and Rivet can help you make it happen!