Becker's Healthcare October 16, 2019
In December 2017, a survey of more than 500 likely voters revealed patients’ desire to better understand their healthcare costs ahead of time. The Foundation of Government Accountability found that 82 percent of respondents — regardless of political affiliation, age or gender — wanted to know the cost of nonemergency procedures in advance.
The federal government is taking action. On June 24, President Donald Trump signed an executive order directing hospitals and insurance companies to disclose negotiated rates and inform patients of their financial responsibility before procedures. Weeks later, CMS released three proposed rules, including one that would build on existing price transparency requirements.
CMS’ final rule on price transparency is expected to come out in November, but healthcare...
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