Wednesday, October 27, 2021
HomeLatest NewsEducation NewsReady or Not, Price Transparency is now a Requirement

Ready or Not, Price Transparency is now a Requirement

​Effective January 1, 2021, each hospital operating in the United States will be required to provide clear, accessible pricing information online about the items and services they provide in two ways:
  1. As a comprehensive machine-readable file with all items and services.
  2. In a display of shoppable services in a consumer-friendly format.
CMS plans to audit a sample of hospitals for compliance starting in January, in addition to investigating complaints that are submitted to CMS and reviewing analyses of non-compliance, and hospitals may face civil monetary penalties for noncompliance.On January 12, 2021, IBM Watson Health provided an informational webinar on the final rule, who needs to comply, machine readable file tips and tricks, shoppable service tool options and shared lessons learned in working with other hospitals.  To view this recording, click here.

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