Price Transparency

Leverage healthcare price transparency data to promote financial sustainability

Healthcare organizations are encouraged to review strategies and how to collaborate with payers, among other insights in this article, in order to grow healthcare consumer trust, engagement and retention.

HFMA August 28, 2023

In proposed regulations, CMS seeks to strengthen hospital price transparency requirements

Hospital price transparency regulations are undergoing changes heading into their fourth year as CMS seeks to step up enforcement while making compliance more straightforward. As part of the 2024 proposed rule for hospital outpatient payments, CMS is adding to the requirement for hospitals to maintain a machine-readable file of their charges for services. In addition,…

Nick Hut July 17, 2023

Annual Conference: How Mayo Clinic establishes the mindset and processes that foster innovation

Hospitals and health systems must adapt their practices using an innovator’s mindset to keep up with the change sweeping the industry, according to a presentation this week at HFMA’s Annual Conference. “Innovation, at this point in our industry’s landscape, is pretty critical,” said Praveen Mekala, enterprise division chair with Mayo Clinic, referring to the problems…

Nick Hut June 29, 2023

Annual Conference: Healthcare entrepreneur Alex Oshmyansky describes his efforts to disrupt drug pricing

Arguably no segment of the healthcare industry is more susceptible to disruption than the market for prescription drugs, as Alex Oshmyansky, MD, PhD, made clear Wednesday morning during the closing session of HFMA’s Annual Conference. Oshmyansky spoke about his personal efforts to disrupt the pharmaceutical market in his role as co-founder and CEO of Mark…

Nick Hut June 28, 2023

News Briefs: The expiration of the COVID-19 PHE brings an end to key provisions

The termination of the COVID-19 public health emergency (PHE) on May 11 meant providers lost many of the accommodations and regulatory flexibilities that were in place since Jan. 31, 2020. For example, Medicare’s 20% add-on payment for treating COVID-19 cases in the inpatient setting no longer is available. With reported cases and hospitalizations steadily trending…

Nick Hut May 30, 2023

Hospital price transparency updates include stricter enforcement, new fines and pending legislation

(Note: The last section of this article was updated May 24 where noted to reflect developments in Congress.) Enforcement of hospital price transparency regulations is becoming stricter, with CMS implementing new policies and recently fining two hospitals. Changes were anticipated after CMS leaders authored an article in February that reported 70% compliance in 2022, the…

Nick Hut May 17, 2023

5 issues that are keeping healthcare compliance professionals up at night

Rarely has the compliance landscape been more muddled or presented more of a challenge for healthcare organizations. “I’ve been a compliance officer for about 20 years now, and I’ve been in healthcare forever,” said Kirsten Wild, RN, a nurse by background who now owns a healthcare compliance consultancy. “But the volume and the pace of…

Nick Hut April 28, 2023

Aaron Crane: It’s time to Ignite the Spark for meaningful price transparency 

“U.S. healthcare gets a C- for price transparency” could easily be the next headline the industry sees. After all, just 70% of hospitals are in compliance with both aspects of the federal price transparency rule, a Health Affairs study found, even though the rule took effect two years ago. But dig deeper than this study…

Aaron R. Crane, FHFMA, MHA April 26, 2023

Beyond the News: What the end of the PHE means for Medicaid

HFMA Senior Editor Nick Hut and HFMA Policy Director Shawn Stack discuss the end of the public health emergency and what it means for Medicaid as well as a recent blog post from Stack on price transparency.

Erika Grotto April 3, 2023

News Briefs: Financial and operational pressures continue for hospitals amid scattered positive signs

Recent financial data for the hospital industry illustrate continuing challenges even as some trends improve. Fitch Ratings released an analysis in early March that offers scant reason for optimism. Titled “Early NFP hospital medians show expected deterioration; will worsen,” it draws on data from hospitals with earlier 2022 financial year-ends. Those numbers show “materially weaker…

Nick Hut March 30, 2023
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