On January 1, 2021, Congress implemented the new Hospital Price Transparency Rules (the “Rules”). Washington’s goal for the Rule was to help grow consumerism in healthcare by empowering consumers to compare prices for “shoppable” services. Not surprisingly, many of these efforts have been resisted by stakeholders in the current, fragmented healthcare marketplace. This has led to limited usefulness of the information for several reasons including, (a) uneven implementation among hospitals, (b) unclear guidance on how to comply with the Rule, and (c) inadequate motivation among providers to comply.
- A thorough understanding of the Rule and an up-to-date review of the modifications of the Rule.
- The overall success in the implementation of the Rule by hospitals in the U.S.
- An overview of how the Rules have impacted purchasers of healthcare.
- A review of any unintended consequences of the Rules; and
- Some innovative ways to use the Rules to help purchasers use consumerism and population health principles to lower the cost curve for employers.