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Chart of the Week General

Do Patients Know the Price?

Consumers now have better access to prices to shop for care.

  • Compliance substantially improved from 2021 to 2022, as CMS fines also increased — from $100,000 annually to over $2 million per hospital in 2022.
  • As of January 2023, nearly 500 warning notices and over 230 requests for corrective action plans were issued.
  • Greater competition through transparency may unlock savings.
  • Concerned about a hospital’s price transparency? See steps on the CMS PT Complaint Intake Submission Form.

Sources

HealthAffairs. Hospital Price Transparency: Progress And Commitment To Achieving Its Potential. Accessed April 13, 2023.

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