CMS Administrator Seema Verma addressed what she called the “Twitterverse” in a tweet Jan. 18, asking individuals to participate in the agency’s “#WheresThePrice” price transparency challenge.
“As our latest #PriceTransparency initiative begins to take effect, we’re asking the Twitterverse to help us make sure patients have access to the basic hospital pricing information (called the chargemaster) that is now required to be posted online,” she wrote.
Ms. Verma’s tweet was accompanied by an image that reads: “Here’s the challenge: Visit the website of your local hospital. If you can’t find their pricing information posted in an electronic format, let me know. Send me a tweet with the hashtag #WheresThePrice and help us drive #PriceTransparency!”
CMS’ new price transparency rule, which took effect Jan. 1, requires hospitals to publish their standard charges online. They must present the information in a “machine-readable” format and update the information at least annually.
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The rule has faced criticism from some hospitals. Since provider negotiations with insurance companies aren’t factored in to the information posted online, it doesn’t provide insured patients with an accurate picture of their expected out-of-pocket costs, they argue.
Date: January 23, 2019
Source: Beckers Hospital CFO Report