On November 15, CMS finalized President Trump’s executive order on healthcare price transparency. Starting January 1, 2021, U.S. hospitals must post pricing for the items and services they provide. So what does this mean for healthcare providers? This is the first in a three-part series that will provide some background on what information needs to be publically posted, how to plan for price transparency and use it to your advantage.
While this mandate is a year away, it’s important to plan and prepare now. With the rise of high-deductible and co-insurance plans, consumers are already shopping regardless of this rule. Embrace this move towards consumerism and become an early adopter. By doing so, this will allow you to better position yourself in this consumer-centric world and possibly even expand your market. So let’s dig in and get started…
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