CMS Issues Final Rule on Price Transparency by Healthcare Facilities

On November 15, 2019, CMS issued a final rule.  This price transparency rule will go into effect on January 1, 2021, and will require hospitals operating within the United States to establish, update, and publicize all standard charges for all items and services provided by the hospital. Hospitals will also be required to display, in a consumer-friendly manner, standard charges for at least 300 shoppable services provided by the hospital. 

The regulation includes the following key provisions:

1. Definition of a “hospital.” 
2. Definition of “standard charges.
3.  Definition of “items and services.” 
4.  Publication requirements. 
5.  Enforcement. A non-compliant hospital could be required to adhere to a “corrective action plan” or pay civil fines of $300/day.

Source: https://www.jdsupra.com/legalnews/cms-issues-final-rule-on-price-37262/