The Centers for Medicare & Medicaid Services (CMS) relayed a recent proposal from the Trump Administration regarding price transparency. Hopsitals that are “licensed in a state as a hospital and receive Medicare patients” must post their negoiatied prices online. This is a significant development in the fight for Price Transparency in the healthcare industry. Medxoom’s price comparison technology can help employers and employees compare pricing for those who do not receive Medicare.
“The charges must be published on the internet in a “machine-readable file that includes additional information such as common billing or accounting codes used by the hospital … and a description of the item or service.” The information must be in a “prominent location” online or available via a written form upon request.
“It also means the service descriptions are in ‘plain language’ and the shoppable service charges are displayed and grouped with charges for any ancillary services the hospital customarily provides with the primary shoppable service,” the agency said.“