Public comment period to close Sept. 27 for federal price transparency rule

Hospitals, insurers, physicians and other healthcare stakeholders have until Sept. 27 to weigh in on a proposed rule requiring hospitals to publish negotiated rates with third-party payers, according to JD Supra, a company that provides legal information.

The proposed rule, which CMS released July 29, includes provisions resulting from a price transparency executive order signed this year by President Donald Trump. It would require hospitals to publish all "standard charges," including the hospital's gross charges and negotiated rates with payers for an item or service, online in a machine-readable format.

Under the rule, hospitals also would be required to publish the rates they negotiate with insurers for services consumers are likely to shop for in a searchable and consumer-friendly manner. Hospitals that don't comply would be penalized.

The proposed rule builds upon a current federal rule requiring hospitals to publish their charges on the internet, but excludes negotiated rates with payers.

Hospitals and insurers are against the idea of publicly disclosing negotiated rates, contending that the disclosure would lead to increased rates, according to JD Supra.

More information about the rule is available here.

Ayla Ellison contributed to this report.

 

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