In this episode, we are joined by Riley Matthews, Lead Product Manager at Experian Health and Jamie Cleverley, President of Cleverley + Associates to discuss the Hospital Price Transparency Rule. Tune in to learn the most common challenges for providers looking to comply with the Hospital Price Transparency Ruling, and the best approaches for a provider to comply. Hear insights on what is being done with the disclosed machine readable file information and what is next in transparency. This episode is sponsored by Experian Health.
Summary
Hospital Price Transparency Rule: Challenges and Approaches for Compliance
Introduction
In this episode, we are joined by Riley Matthews, Lead Product Manager at Experian Health and Jamie Cleverley, President of Cleverley + Associates to discuss the Hospital Price Transparency Rule. Tune in to learn the most common challenges for providers looking to comply with the Hospital Price Transparency Ruling, and the best approaches for a provider to comply. Hear insights on what is being done with the disclosed machine readable file information and what is next in transparency.
The Hospital Price Transparency Rule
Riley Matthews and Jamie of Cleverly and Associates have joined the podcast to discuss the hospital price transparency rule. They explain that the rule defines previously required elements from the Affordable Care Act, such as standard charges, items, services, and service packages, as well as a machine-readable file and consumer-friendly display of shopable services.
Challenges and Approaches for Compliance
Hospitals are hesitant to disclose payer rates because of worries about lower payment levels. The best approach for providers to comply with the ruling is to define a strategy that best fits their organization, focusing on a patient-friendly workflow and a machine-readable file. With the disclosed machine readable file information, there has been some difficulty creating a standard database due to the different ways hospitals have disclosed this information. CMS has asked for ideas for a standardized file format and this could increase the utility of the information. Organizations should try to be proactive in their field to eliminate risk, especially with fines increasing from $300 to $5,500 per day when non-compliant.
Insights and Valuable Information
Riley and Jamie offered key points and valuable information on navigating the challenges and complexities of price transparency. To learn more, visit their websites: cleverlyassociates.com and experian.com/healthcare.
Sponsorship
This episode is sponsored by Experian Health.
Note: This is an AI generated transcript, not edited by a staff writer and is solely intended for educational purposes. If you have any questions/concerns, reach out to podcasts@beckershealthcare.com
This episode aired on 11/14/2022 and can be listened here.
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