The state of price transparency compliance in 2024

More than 90% of hospitals that are required to post a machine-readable file have done so as of Dec. 15, according to a Jan. 4 report from Turquoise Health. 

Turquoise Health analyzed data from 6,357 hospitals, 650 health systems and more than a billion negotiated rates, according to the report. 

The report found: 

  • 5,763 hospitals (90.7%) posted MRF.
  • 5,280 (83.1%) have negotiated rates. 
  • 5,170 (81.3%) have BUCAH rates.
  • 5,134 (80.8%) have imaging rates.
  • 5,109 (80.4%) have surgery rates.
  • 4,911 (77.3%) have cash rates. 
  • 4,412 (69.4%) have drug rates. 
  • 4,137 (65.1%) have DRG rates. 

Turquoise Health said the quality of MRFs has increased, with more than 50% of hospitals scoring five stars. This means the hospitals have a complete MRF that contains cash, list and negotiated rates for a significant quantity of items and services. 

Turquoise Health said that 562 new hospitals posted files in 2023. Most were individual hospitals, often with unique MRF formats. 

On the payer price transparency side, Turquoise found that the number of payers posting data increased from an initial 67 to more than 200. Price transparency rules for payers took effect in July 2022.

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