Starting January 1, hospitals will be required by the Centers for Medicare & Medicaid Services to provide more detailed price transparency, including information on drug costs and expected reimbursement amounts. While experts are skeptical about patients’ ability to benefit from these changes, they hope that increased public pricing data will lead to technology solutions simplifying pricing for patients. Hospital pricing information will now need to include drug measurements, modifiers, and estimated reimbursement amounts from health plans. Despite doubts about the impact on consumers, experts believe that the move towards greater price transparency may lead to a future where providers set different prices for various buyers, potentially contracting directly with employers or patients.
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Hospitals Are Facing New Price Transparency Requirements, But Will They Truly Help Patients Shop for Care?
