The Price Transparency Rule has the potential to instigate massive changes in the healthcare system and has already created challenges for hospitals over the past year. Beginning in July, most group health plans and issuers of group or individual health insurance will begin posting pricing information for 500 covered items and services, and by 2023 the Rules apply to all services.
The objective of health plan price transparency is not only to empower consumers to make more informed decisions before receiving care, but also to drive greater competition among providers, with the intent of reducing costs and improving quality.
As we get closer to the health plan implementation date, we are tracking the news and invite you to join us by subscribing to Price Transparency News which will summarize each quarter the progress of the Transparency in Coverage rules, payer implementations across the country and innovative solutions for providing the most accurate display of individual’s cost-sharing responsibility.
The Transparency in Coverage rules go into effect in stages,
with enforcement beginning on July 1, 2022.
Are you prepared to be compliant?
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Do People Actually Understand Their Coverage? [The Answer May Surprise You]
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American Hospital Association: AHA Comments to House Republican Task Force on Affordability
On behalf of our nearly 5,000 member hospitals, health systems and other health care organizations, our clinician partners – including more than 270,000 affiliated physicians, 2 million nurses and other caregivers – and the 43,000 health care leaders who belong to our...
Stat News: Hospitals’ cash prices for services offer a new look at health care pricing
By Jackson Williams There are several common narratives about variations in health care prices: Uninsured consumers are dunned for full chargemaster prices, consumer advocates complain. Insurers with outsized market power drive down physician reimbursement, say the...
Health Affairs: States Hold Keys To Health Care Affordability, But Are They Using Them?
By Elise Lowry, Annaliese Johnson, Amanda Hunt, Tad Lee Health care affordability is a top concern for consumers and is often the No. 1 issue that state residents want their policy makers to work on. Health care affordability problems cause stress and anxiety for...
FIERCE Healthcare: Industry Voices—Why the new hospital price transparency rules miss the mark
By Kyle Hicok Intentions were good, but the new federal rules that were supposed to make hospital bills easier to figure out are instead doing little to help. Hospital prices and reimbursements have long been a riddle wrapped around a cipher. Why the same surgical...
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