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Hospital Price Transparency

Module Two Short Paper: Hospital Price Transparency Samantha Gilchrist Southern New Hampshire University, Department of Nursing IHP 610: Health Policy and Law Dr. James Dockins June 19,2022 Rule Enforcement Strategy Price transparency is an important feature within the healthcare system to allow consumers peace of mind in getting the healthcare for which they are paying. It helps Americans determine the price of the services they want or require before receiving it (Consumers). Price transparency is designed to allow consumers to shop around and compare prices of services at various hospitals to facilitate informed decision making (Consumers). The Center for Medicare and Medicaid Services (CMS) is a federal agency designed "to provide oversight of Medicare, the federal portions of Medicaid and CHIP, and the Health Insurance Marketplace, and to engage in quality assurance activities," (Jones & Bartlett, 2020). CMS enforces hospital compliance with price transparency in auditing hospitals and investigating complaints submitted (Consumers). In relying on the complaints, CMS gives hospitals the opportunity to remediate deficiencies and resubmit before consequences are imposed (Wheeler & Taylor, 2021). In combination of auditing hospital websites and relying on consumer complaints, the CMS will enforce the price transparency rule for hospitals. Legal Risks and Liabilities Hospitals are required to comply with CMS price transparency rules and regulations or risk federal consequences. Covid 19 has posed an exceptional barrier to acquiescence with initiation of machine-readable price descriptions and calculators (Miller et al. 2022). CMS holds the responsibility of auditing hospitals' compliance, and often will allow the facility to remediate to meet the standards set forth by the CMS (Wheeler & Taylor, 2021). If noncompliance continues, hospitals may face lack of accreditation or fines of $300 per day or $109,500 per year (Wheeler & Taylor, 2021). Public knowledge of noncompliance can be made accessible by CMS 3 -- hospitals have an obligation of transparency to consumers and accuracy of reported information. Hospital Compliance Preparation Standard charge information is the premise of price transparency to which CMS is requiring hospitals to comply with. CMS requires that hospitals provide easily accessible information to consumers regarding standard prices for services. This may be presented in two ways -- "a comprehensive machine-readable file with all items and services" or "in a display of shoppable services in a consumer-friendly format," (Consumers). The required display includes machine readable files and shoppable services exhibited in a consumer-friendly format (Consumers). Federally owned and operated hospitals are exempt from complying with the price transparency rule as they are deemed to already be following CMS standards (The Federal Register). CMS considers omission to federally funded hospitals supplying information on price transparency. For areas where internet access cannot be obtained, hospitals would seek aid from marketing departments and local programs to distribute this information to the general public. Additionally, hospitals should have this information readily available within the facility to allocate to those requesting it. Impact on Overall Healthcare System Overall, the healthcare system is competing with prices, services provided, satisfaction, amongst other factors -- healthcare has become