Achieving Hospital Price Transparency for Compliance, Patients

A CMS price transparency rule imposed requirements on hospitals to publicize their pricing data. The rule lays out how hospitals can achieve price transparency in a regulatory sense, which is important as CMS amps up enforcement of the rule's requirements. However, hospital price transparency also needs to go beyond regulatory compliance so consumers can truly shop for care.Hospitals have a long journey to price transparency, considering lackluster regulatory compliance rates, according to several reports and trackers. Most hospitals are not fully compliant with the overall CMS price transparency rule, with many missing the part of many of the technical aspects of the rule. Fully complying with the rule's requirements, though, is key to avoiding enforcement actions, such as civil monetary penalties.