HIT Consultant March 23, 2023
Over two years have passed since the hospital price transparency rule was enacted. Unfortunately, America still struggles with high, painfully opaque pricing across healthcare that hurts employers, workers, patients, and taxpayers. The Centers for Medicare and Medicaid Services recently announced that in 2021, the nation spent $4.3 trillion on healthcare, nearly twice the average of other nations in the developed world. Noncompliance and price gouging still exist in a market where consumers are easily blindsided by costs revealed only after care is rendered.
A recent study found only 16 percent of hospitals nationwide comply with price transparency guidelines. At the same time, 100 million Americans find themselves in healthcare debt. Consumers have difficulty planning for medical expenses because many...
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