Insights

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Preparing for Hospital Price Transparency: How Leaders Can Turn Compliance Into Opportunity

Everyone is talking about it (and many are even suing over it). The Trump Administration’s Centers for Medicare and Medicaid Services (CMS) recently r...

Written by

Claire Bevan

Published on

November 27, 2019

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Insights

Everyone is talking about it (and many are even suing over it). The Trump Administration’s Centers for Medicare and Medicaid Services (CMS) recently released a transformative price transparency rule for hospitals. Under the new rule, hospitals must publicly disclose all standard rates for care, including negotiated rates with insurers, by January 2021. Additionally, hospitals will be required to prominently surface at least 300 “shoppable” services in a “consumer-friendly manner” for patients.

Haven’t had time to read the 330+ page rule? Not to worry, we developed some quick reference resources to help get you and your team up to speed:

Download the executive brief.

Cedar’s experts have developed a step-by-step guide and checklist to turning the requirements into a competitive advantage. Did you know:

  • At least 5 different types of standard charges must be displayed for every service (including gross, discounted cash and 3 more…)
  • Prices for common ancillary services like anesthesia must be shared (even if often provided by non-hospital employees)
  • Shoppable services must be shared “prominently,” meaning that there is no reliance on breadcrumbs to help with the navigation and are visually distinguished on the page.

Download the executive brief the full requirement checklist for all the key facts you need to know. (Hint: the CMS rule is 300+ pages. We read it so that you don’t have to).

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See how Cedar connects the dots

01
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Increase patient payments

with an empathetic, easy-to-understand billing experience.

02
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Contain
cost-to-collect

with self-service solutions and fewer vendors to manage.

03
Drive patient
satisfaction

with transparent billing and flexible payment options.

04
Improve the staff experience

with agile, streamlined tools that mirror the patient’s view.