Four Ways Hospitals Should Prepare for the Price Transparency Rule Next Year

Health Leaders Media, Jeff Leibach

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Jeff Leibach, a director with Guidehouse's healthcare strategic solutions team, tells HealthLeaders that regardless of the legal fate of the final rule, hospitals need to be prepared for more price transparency in the future. 

About a month ago, a federal judge upheld a final rule issued by the Trump administration mandating two price transparency measures for hospitals.

The final rule issued by the Centers for Medicare & Medicaid Services (CMS) will require hospitals to provide patients with easily accessible information about gross changes, payer-specific negotiated charges, discounted cash prices, and "deidentified" minimum and maximum negotiated charges.

Additionally, the final rule also mandates that hospitals publicly display negotiated charges for 300 shoppable services on their websites in a consumer-friendly manner.

Failure to comply with the final rule, which is slated to go into effect on January 1, 2021, will result in monetary fines of $300 per day. The American Hospital Association and three other hospital associations said they will appeal the ruling.

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