Prices for Hospital Services Are Going Public in 2019
30 December, 2018, 09:24 | Author: Lillian Steele
A new federal rule goes into effect January 1 that hospitals must post online a master list of prices for the services they provide.
The new rule, called the Inpatient Prospective Payment System rule, is part of a Medicare program aimed at pricing transparency in the healthcare system.
Often times, little to no price transparency can make it hard for consumers to price compare.
Requiring hospitals to post their standard list of prices on the Internet and in a machine-readable format, rather than just being required to make them available in some capacity. "We know that hospitals have this information and we're asking them to post what they have online".
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Patients will be able to compare prices online before getting treatment.
But real transparency comes when consumers can easily see what they will pay to a provider based on their insurance benefits, said Thomas Campanella, Baldwin Wallace University health care MBA program director.
Prices vary from hospital to hospital, and they can all depend on what your insurance company negotiates with hospitals.
While the online lists are a start, some hospital officials warn that the public price lists may not look anything like what you end up actually paying.
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