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…
Author: ATL Admin
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…
Warning Letter about Price Transparency Files? We Can Help
In April, CMS sent its first wave of warning letters to hospitals that were not in compliance with its Hospital Price Transparency Rule, which took effect at the beginning of the year. While it’s not clear which hospitals received warning letters or even how many hospitals CMS contacted, the odds that any given hospital would…
Leading Children Hospitals’ Prices Are All Over the Map
In the United States, it’s fairly common for children in need of specialized medical care to travel for that care, largely because pediatrics is a specialty not offered at every local hospital. This means that many families whose children need hospital care find themselves considering providers well beyond their local institutions. Thanks to the CMS’s…
Introducing Our Price Transparency Compliance Dashboard
Discover at a glance whether your hospital might be subject to price transparency penalties with HDA’s Price Transparency Compliance Dashboard. Even though hospitals have been required to comply with the CMS’s Hospital Price Transparency Rule since January 1 of this year, as many as 94 percent are not yet in compliance. In many cases, as…
3 Key Benefits of Stronger Acceptance of the Price Transparency Rule
About 94 percent of hospitals are not in full compliance with the Centers for Medicare and Medicaid Services’ (CMS) Hospital Price Transparency Rule. The rule is part of a CMS strategy to drive competition and innovation in US healthcare, with the goal of improving patient outcomes. We here at HDA also believe in the power…
94% of Hospitals Aren’t Compliant with Price Transparency Rule
A recent report found that 94 percent of hospitals are not fully compliant with the CMS’s Hospital Price Transparency Rule, which requires US hospitals to make their standard prices available to the public. According to the report, the majority of hospitals are not yet prioritizing compliance, which is, among other things, a missed business opportunity.…
Not in Compliance? 8 Tips from Our Data Analytics Team
A recent report found that 94 percent of hospitals aren’t in compliance with the CMS’s Hospital Price Transparency final rule. Perhaps your hospital is one of them. Many of the hospitals featured in the report had published some pricing data, but did not meet all the rule’s requirements. This left them labeled “noncompliant.” If you’re…
10 Common Problems with Price Transparency Data
The Hospital Price Transparency Rule represents an important step toward fairer and more transparent pricing in the American healthcare system. More than seven months after this rule officially took effect, a recent survey of 1000 providers in 27 states found that over two-thirds of those hospitals were far from meeting the rule’s requirements, but this…