Hospitals to Publicly Post Prices

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Hospitals will soon be required to post their standard charges online, per a rule finalized on August 2nd , 2018 by the Trump Administration. Starting January 1st ,2019, hospitals will be required to update this information on an annual basis. The Centers for Medicare and Medicaid (CMS) say they wish to arm the consumer with enough information to make informed decisions, encouraging price transparency.

“Price transparency is core to patient empowerment and making sure American patients have the tools they need so they can make the best decision for them and their families,” said CMS Administrator Seema Verma.

When accessing this data through a hospital website, consumers will need to keep in mind that the posted pricing will not be taking into consideration what the consumer’s health insurance may cover. The posted prices will be different because insurers and government payers, like Medicare, negotiate the payments that the consumer ultimately pays, but at least this will allow consumers to review what the cost would be without their applied insurance coverage.