Becker's Healthcare August 31, 2020
In January, CMS’ final price transparency rule for hospitals will take effect. The rule aims to make information on care costs readily available for patients seeking care. Price transparency has long been a vexing challenge in healthcare. Meeting the requirements of this rule has become a top priority for healthcare leaders.
Here, Heather Kawamoto, vice president of product at Waystar, answers seven questions about achieving price transparency in healthcare.
Question: Why has achieving price transparency been such a challenge in healthcare?
Heather Kawamoto: Fundamentally, healthcare pricing is complicated, and it takes a huge amount of data to determine who owes what to a provider. Although there are now technologies that can solve this, with profit margins as narrow as they...
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