92% of healthcare providers concerned about CMS price transparency rule, survey finds

Most healthcare providers are concerned about the new CMS price transparency final rule, and nearly half are uncertain how they will address the mandate, according to a survey from PMMC, a provider of revenue cycle software and services.

The survey involved 150 healthcare providers during a recent webinar with PMMC and RCM research company Healthcare Business Insights. Participants were questioned about the CMS price transparency rule taking effect Jan. 1.

Under the rule, hospitals are required to publish a list of their standard charges on the internet. They must present the information in a machine-readable format that can be easily imported into a computer system, and update the information at least annually. Currently, hospitals are only required to make this information available upon request.

Most survey respondents (92 percent) said they are "somewhat" or "very" concerned about how their standard charges will be perceived by the public.

And nearly half of respondents (43 percent) said they "don't know yet" how they will address the mandate. Twenty-nine percent said they will post standard charges as well as other pricing information, while 22 percent said they will only post standard charges.

Only 26 percent of respondents said they are "very confident" they will meet the CMS    price transparency mandate by Jan. 1. Sixty-six percent said they are "somewhat confident."

Read more about the survey here.

 

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