Minnesota's law to improve cost transparency takes effect next month

Minnesota legislation to protect patients from the surprise aspect of medical bills takes effect Aug. 1, according to a report on brainerddispatch.com.

The legislation was written by state Sen. Rich Draheim, R-Madison Lake, and signed by Gov. Tim Walz.

Under the bill, hospital or health system-based clinics will be required to put up a notice at their locations and online that the patient may be on the hook for higher out-of-pocket costs due to facility fees, sometimes called provider-based billing, according to brainerddispatch.com. 

The goal is to improve healthcare cost transparency. But consumer advocate Buddy Robinson, director of the Minnesota Citizens Federation Northeast, said in the report that he doesn't expect the legislation to have a huge effect as far as empowering patients and promoting competition.

Read the full report here

 

More articles on healthcare finance:

Where states stand on surprise-billing approaches
For-profit hospital stock report: Week of July 15-19
New York had most out-of-network charges for in-network inpatient stays in 2017

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