The Four Steps You Must Take to Prepare for Price Transparency

Under the Affordable Care Act (ACA), hospitals are required to publish “list prices” for all their procedures, which in theory would allow patients to shop around for the lowest price for a given procedure. While the rules were supposed to go into effect on Jan. 1, they were delayed.

And it’s not just hospitals. Eventually, the price transparency rules will apply to all health care professionals, whether they are associated with hospitals or not. While it will be easier for smaller practices, since many independent physicians already have fee schedules available, they will eventually have to navigate the price transparency waters as well, which means they should start preparing now.

With less than a year before the rules become immutable, it’s time to start thinking about what steps are necessary to move toward price transparency.