In 2023, hospitals in the United States showed significant improvement in complying with price transparency regulations, as reported by Turquoise Health. The regulations, enforced by CMS since 2021, mandate that hospitals must post their pricing and negotiated charges on their websites in a consumer-friendly manner. Turquoise’s report found that 90.7% of hospitals had posted a machine-readable file (MRF) as of December 2023, a stark contrast to the low compliance rates in previous years. The complexity of healthcare billing data and the lack of technical resources were cited as reasons for initial noncompliance. Additionally, the report also found that the quality of hospitals’ MRFs had improved, with a majority earning a five-star rating. Despite improved compliance, CMS began penalizing hospitals for noncompliance in 2023, with 14 hospitals fined by the end of the year.
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Hospitals Finally Reached Widespread Price Transparency Compliance in 2023
