Healthcare payers have been required to disclose negotiated rates with providers since 2022. Today, most have complied, meaning there is abundant data on how much various payers are compensating hospitals for various services. There’s so much data, in fact, that it can be difficult to know where to start when using it to negotiate pricing…
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Product Update: Healthcare Payer Data Is Now Available to HDA Customers
When we launched our healthcare price transparency offerings in 2021, the only pricing data available was from hospitals, as they were the only group CMS required to publish prices at that time. Since July 1, 2022, however, payers (that is, insurance companies) have also been required to make pricing data available to the public. We’re…
How Cincinnati Children’s Hospital Is Using Price Transparency Data: 4 Use Cases
Access to price transparency data has been transformative for Cincinnati Children’s Hospital. That was the biggest takeaway from a recent conversation we had with Tiffany Walberg, director of pricing and reimbursement analysis at Cincinnati Children’s. She’s been using pricing data provided by Healthcare Data Analytics for more than a year now; in that time, she’s…
The Importance of Price Transparency for Hospitals
Healthcare pricing and costs can be an overwhelming topic, but it’s important to understand the impact of price transparency in the United States healthcare system. With Healthcare Data Analytics, Inc., hospitals can gain access to insights about pricing practices among their competitors as well as around the country. With our analytics capabilities, they can make…
Chicago Hospital Pricing Snapshot: Cost of Covid Treatment
Preventive care for COVID-19 in the form of vaccination is available for free in the United States. But if you actually get sick and end up in the hospital, you will likely pay for your treatment. The amount you pay, though, depends on not just how sick you are but also where you live, which…
Hospital Price Transparency Compliance by State: 3 Takeaways
The CMS Hospital Price Transparency Rule took effect almost a year ago, but, as we’ve noted in past blog posts, most hospitals in the US have yet to publish their price transparency files. We decided to look at compliance by state to see whether we could learn anything by identifying states whose hospitals have the…
Los Angeles vs. Cincinnati: Who’s Winning on Healthcare Prices?
When the Cincinnati Bengals meet the Los Angeles Rams this weekend for Super Bowl LVI (that’s Super Bowl 56), they’ll play in L.A.’s SoFi Stadium. Our hope is that everyone walks off the field healthy and unhurt – but the reality of the NFL is that players regularly get injured during games. For this week’s blog…
3 Ways Hospitals Can Use Our Data to Benchmark
Competitor price research is an essential part of keeping any business competitive. But for hospitals, that research has historically been difficult. The CMS’s Hospital Price Transparency Rule is changing that: now that hospitals are required to post their prices publicly, it’s easier for operators to see what their competitors are charging and use that information…
Wondering When Your Competitors Post Their Price Transparency Files? We Can Tell You
In the past, we’ve highlighted some of the advantages of publishing pricing data as required by the CMS Hospital Price Transparency Rule: improving customer loyalty by making transactions easier, staying competitive, and increasing negotiating power with payers. But to realize the latter two, hospitals must also know what their competitors’ prices are – and when those…
Hidden Opportunity for Hospitals that Comply with PT
Analysts agree that one reason hospital compliance with the CMS’s Hospital Price Transparency Rule remains so low is that CMS has not provided a template for formatting pricing data. This means that, to comply with the rule, hospitals must not only do the work of gathering, publishing, and updating their data but also the work…