Price Transparency Rule

Effective on January 1, 2021, the Price Transparency Rule (the “Rule”) requires all hospitals operating within the United States to make public a list of their standard charges for items and services via the Internet in a machine-readable format. Hospitals must also provide prices for a list of 300 shoppable services that must be made publicly available in a searchable, consumer-friendly format. This requirement is being enforced with the intent to enable healthcare consumers to make more informed decisions based on cost, increase market competition, and ultimately drive down the cost of healthcare services, making them more affordable for all patients.  Many hospitals are spending time now to determine which “items and services” require price disclosure under the Rule, and some have found that the Rule does not provide sufficient guidance in all situations.
Continue Reading The Price Transparency Rule Goes Into Effect January 1, 2021 – Is Your Hospital Ready?