Becker's Healthcare October 21, 2020
Beginning in January 2021, hospitals will be under new federal price transparency rules, requiring them to post their “standard charges” online in a machine-readable file, including gross charges and payer-specific negotiated charges. They will also be required to post payer-specific negotiated rates online in a searchable and consumer-friendly manner for 300 “shoppable” services.
To help hospitals get ahead of these looming federal requirements, Kyle Sherseth, vice president of advisory services at nThrive, provided five price transparency preparation tips during an Oct. 9 session sponsored by nThrive at the Becker’s Healthcare HIT + RCM Virtual Event.
The tips:
1. Identify risk areas and opportunities to improve chargemaster structure. Mr. Sherseth recommends having good policies to identify where the organization may have...
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