4 Key Recommendations for Improving Healthcare Price Transparency

A task force led by the Healthcare Financial Management Association has developed guiding principles for improving healthcare price transparency.

The task force included members from America's Health Insurance Plans, the American Hospital Association, Catalyst for Payment Reform and Community Health Advisors, as well as a patient representative, according to a news release. The transparency guidelines build on a report HFMA released last fall detailing best practices for provider communication with patients about financial responsibilities.

The task force's key recommendations including the following:

1. Health plans should help their enrollees obtain estimates for healthcare services, including expected out-of-pocket costs.

2. Hospitals should provide price information to uninsured patients and help them explore their health insurance coverage options. Additionally, hospitals should ensure all patients are aware of their potential eligibility for financial assistance provided by the hospital.

3. Consumers should receive price information in a way that's easy to understand. HFMA has developed a consumer guide to help patients obtain and comprehend healthcare prices.

4. Employers should promote transparency by encouraging their workers to be engaged in their care decisions.

For more information, view the full task force report here.

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