Healthcare Innovation January 23, 2020
The battle over price transparency has begun, and some health system revenue cycle departments have already taken the lead on pushing price estimator tools to their patients
In November, the Trump administration released a pair of regulations—one in the form of a final rule and the other a companion proposal—designed to put the onus on hospitals and health plans to be far more transparent about their pricing information and out-of-pocket costs for patients than ever before.
The goal, according to the government, is “to empower patients and increase competition among all hospitals, group health plans and health insurance issuers in the individual and group markets.” What’s more, federal officials believe greater transparency will ultimately lower the costs of healthcare—projected to...
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