In November of 2019 the Health and Human Services Department created the hospital price transparency rule. The rule took effect in January of 2021. More than 85% of hospitals are not compliant with this rule. The first enforcement actions just took effect. Two hospitals were fined a total of $1,097,500 for failure to comply. There is a need for technology expertise, tools, and processes to support hospitals in their efforts to comply with these regulations. We offer a subscription model to ensure accuracy, availability, and proof of compliance.
Hospital price transparency helps Americans know the cost of a hospital item or service before receiving it. Starting January 1, 2021, each hospital operating in the United States will be required to provide clear, accessible pricing information online about the items and services they provide in two ways:
The Transparency in Coverage Rule, set to take effect in July 2022, will require payers to publicly post negotiated prices for all covered services. Payers will need to confirm their processes will pass audits and that their infrastructure can produce appropriate files. It has been suggested that payers need to assess their public relations and pricing strategies in light of these changes. Payers will need to gather, analyze, and clean their pricing data. They should create consumer education programs and platforms. And they should establish reporting and analytics technologies and processes.
We offer consulting engagements to analyze existing infrastructure and data formats. We build tools and processes to automate data exports.
Our platform automates feeds and provides publication widgets for integration with hospital websites. We provide hosting solutions to ensure compliance.
We develop, operate, and maintain the tools and infrastructure to ensure compliance with data format, content, and freshness requirements.
We hash and store publication data to provide defense against non compliance accusations.
We provide unified data formats and present various API access points for application development.
We provide various channels for consumer feedback to verify, comment on, and rate accuracy and availability of price data for core procedures.