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Pricing Transparency: How Much Will this Cost Me? Living in the crosshairs of regulation and consumerism Wednesday, February 26th, 2020 | 1:00PM - 1:45PM Eastern |
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Faculty: Terri L. Welter, Principal, ECG Management Consultants and David A. Wofford, Associate Principal, ECG Management Consultants |
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On November 15, 2019, CMS
released two rules related to transparency in healthcare pricing: a
final rule addressing hospital pricing and a proposed rule addressing
transparency in insurance coverage. These rules are projected to go into
effect on January 1, 2021. The hospital pricing final rule has already
been challenged in court, so it seems likely the insurance coverage
proposed rule will also face resistance before it is finalized. Given the uncertainty surrounding these rules, coupled with the fact that it will be almost a year before they go into effect, some provider organizations may be tempted to take a wait-and-see approach rather than immediate action. While the future of these two rules remains uncertain, we should assume there will be a continued push toward pricing transparency and that it will have a major impact on the healthcare industry. Thus despite the uncertainty, it makes sense for providers to begin preparing for greater pricing transparency in the industry, since the impact could be significant. Enhanced transparency will not only impact reimbursement rates but will also significantly influence how providers interact with payers. It is not too early to begin developing a strategy for success in a more transparent environment. |
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Please join us on Wednesday, February 26, 2020, at 1 PM Eastern as ECG Management Consultants’ Terri L. Welter and David A. Wofford address the implications of the CMS Price Transparency Rules and the resulting need for creative pricing strategies and patient-friendly value-driven payment models, in this special 45-minute HealthcareWebSummit event. Click here for detailed information or to register or call 209.577.4888. |
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