Where Price Transparency Compliance Stands at Mayo Clinic, Providence and 6 Other Systems

Where Price Transparency Compliance Stands at Mayo Clinic, Providence and 6 Other Systems

The CMS final rule, which took effect Jan. 1, aims to make hospital pricing information readily available to patients to compare costs and make more informed healthcare decisions. To aid with this, hospitals in the U.S. are required to post both a machine-readable file with the negotiated rates for all items and services and display the prices of 300 shoppable services in a consumer-friendly format. 

Meeting the deadline and maintaining compliance is no small feat for providers. CMS estimates that each hospital may spend 150 hours and nearly $12,000 to review and ensure their posted standard charges are accurate and up to date.

In an effort to better understand how hospitals prepared for the onset of the rule and some of the challenges that remain, Becker's reached out to several U.S. hospitals and health systems. 


Next Article

  • Where Price Transparency Compliance Stands at Mayo Clinic, Providence and 6 Other Systems

    Three Tools to Help Reduce Physician Burnout

    In addition to the physical toll it takes on individuals, burnout also takes a financial toll on our healthcare system. It Is estimated that physician burnout costs the U.S. healthcare industry $4.6 …

    Posted Jan 30, 2021

Did you find this useful?

Medigy Innovation Network

Connecting innovation decision makers to authoritative information, institutions, people and insights.

Medigy Logo

The latest News, Insights & Events

Medigy accurately delivers healthcare and technology information, news and insight from around the world.

The best products, services & solutions

Medigy surfaces the world's best crowdsourced health tech offerings with social interactions and peer reviews.


© 2024 Netspective Media LLC. All Rights Reserved.

Built on Mar 28, 2024 at 3:00am