Medscape July 12, 2022
The latest stage in government policy designed to promote greater healthcare price transparency now requires commercial health insurance plans and self-insured companies to post in giant “machine-readable” electronic files their actual contractual payment rates for a range of services purchased from healthcare providers.
Effective July 1, the Transparency in Coverage Final Rule requires most group health plans, along with companies that pay directly for their employees’ medical care, to disclose on an accessible public website information about in-network negotiated prices and out-of-network allowed rates and billed charges for hospitals, doctors, and other covered items and services. There are hefty fines — up to $100 per day per covered person — for failure to post the required data.
The government’s commitment...
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