CMS Transparency Rule Panned by Hospitals, Insurers

CMS received thousands of comments (click here to see them all) to its proposed rules issued in July that would require each hospital operating within the U.S. establish and make public a yearly list of the hospital's standard charges for items and services provided by the hospital. It requires the disclosure of commercial prices, even those that are privately negotiated between the hospital and an insurer. It also allows CMS to monitor hospitals to make sure they are complying with these rules, and to impose a penalty of up to $300 per day per hospital for non-compliance. The comment period on the rule ended September 27. Hospitals and insurers were generally opposed to the requirements, while consumer groups favored the proposal. Hospitals stated that publishing their negotiated prices won't help consumers, click here for more.