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New price transparency regulatory considerations for hospitals
By Lesley Pink Austin Barrington, David Lewis, John Pickering, and Mike Hamachek
As of January 1, 2021, regulations require U.S. hospitals to post to their websites all of their negotiated payment rates in one sprawling machine-readable file, although many hospitals may not meet the initial deadline. The aim of the regulation is to increase price transparency with the goal that such transparency will lead to increased competition, improved customer choice, and ultimately lower prices.
There will be challenges, though, to extract useful competitive information from the files.
ASSESSMENT:
This article by Milliman professionals examines those challenges.
Your thoughts are appreciated.
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Filed under: Experts Invited, Health Economics, Health Insurance, Healthcare Finance | Tagged: Austin Barrington, David Lewis, Hospital Financial Price Transparency, John Pickering, Lesley Pink, Mike Hamachek, Milliman |
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