Price Transparency Rule: Strategic Considerations for Hospitals

In late June, a federal court upheld the Trump Administration’s 2020 Price Transparency Rule, which requires hospitals to disclose their charges and payer-specific negotiated rates for all services they provide. The legal issues are straightforward yet many strategic questions remain regarding what provider executives need to do next to prepare for the rule, including:
 
• Is the rule settled and will there be an appeal?
• What does compliance with the rule look like and what are consequences of non-compliance?
• How might this affect hospital pricing strategies and overall market dynamics?
• What shoppable services should providers actually post, and why?
• How should hospitals approach contract modeling around price transparency?
• What will be the downstream revenue effects?
• Will COVID-19-related utilization changes affect price transparency? 
Healthcare Strategic Solutions, in collaboration with Massachusetts Hospital Association, recently provided a webinar that will discuss how these regulations have affected hospital strategies and operations feeding into the federal rule.  They also discussed the high-level tactical considerations.  
To watch this on-demand webinar regarding the critical next steps for hospital finance executives as the price transparency rule evolves, click here.