CMS Reminds Hospitals About Price Transparency Requirements
The Centers for Medicare and Medicaid Services (CMS) continues to remind hospitals about the final rule that established requirements for hospitals to establish, update, and make public a list of their standard charges for the items and services that they provide. The goal for these actions is to promote price transparency in healthcare and public access to hospital standard charges. This requirement becomes effective on January 1, 2021. The pricing information can be provided in two ways:
- Comprehensive machine-readable file with all items and services
- Display of shoppable services in a consumer-friendly format
CMS has developed the following resources for providers to utilize to prepare and ensure they are compliant:
- Hospital Price Transparency website
- Hospital Price Transparency Frequently Asked Questions (FAQ’s)
- 8 Steps to a Machine-Readable File of All Items & Services
- 10 Steps to Making Public Standard Charges for Shoppable Services
- Hospital Price Transparency Requirements Quick Reference Checklists
