The push for health care price transparency is nothing new and can be traced back almost 20 years. When CMS released their proposed 2019 Inpatient Prospective Payment System (IPPS) rules including “requirements for hospitals to make public, a list of their standard charges via the internet”, it further underscored CMS’ continued effort for hospitals and health systems to provide price transparency.
Despite the CMS push for pricing transparency, it’s not uncommon to hear hospital CFOs and financial managers say that “with the increased use of prospective rates in our payer contracts prices really don’t matter”. However, this is a myth, as hospital prices do still matter.
Watch our complimentary webinar to hear Panacea executives, Greg Adams, Fred Stodolak and Mark Spehar discuss the importance of hospitals charges along with an instructive seven step approach to prepare for the CMS proposed rule and how technology can help providers develop and maintain rational chargemaster prices.