How To Get the Most Out Of Hospital Price Transparency
We believe consumers should be able to know, long before they open a medical bill, roughly how much a hospital will charge for items and services it provides. Once hospital price transparency goes into effect on January 1, 2021, hospitals’ standard charges, including the rates they negotiate with insurance companies and the discounted price a hospital is willing to accept directly from a patient if paid in cash, must be publicly available, free of charge, and presented in a consumer-friendly display.
Review the Data.
Hospitals must post standard charges for at least 300 shoppable services that can be planned in advance, along with a description and any other services the hospital customarily provides with it. This includes things such as x-rays, outpatient visits, imaging and laboratory tests or bundled services such as a colonoscopy. You’ll be able to find the hospital’s standard charge for the shoppable service and see other associated costs.
Learn before receiving care what the potential hospital charges for your care will be. You can also review Care Compare to see the information about the quality of care at over 4,000 Medicare-certified hospitals.
When hospitals share their prices online, consumers are given the power of price comparison. Use this information to shop for the hospital that works best for you.