Price transparency in hospital and medical pricing has long been a problem. For too long, it’s been difficult – if not impossible (even for trained professionals) – to determine exactly how much one pays for medical services, and where the costs come from. That makes CMS’s new rules, which went into effect as 2019 kicked off, relevant.
The rules require healthcare organizations to post their standard procedure pricing information online for consumers. The catch is that this must only be in a “machine-readable format.” So, will it actually help patients and employers evaluate their costs and compare across facilities? We’ll be keeping a close eye on how this situation develops, and advocating for genuine price transparency from healthcare organizations.
In the meantime, take a free copy of our notice on the CMS rules hot off the press. And feel free to reach out to us with any questions you have about this important development.