Price transparency: New requirements and considerations for hospitals

The lack of price transparency in the healthcare market in the United States is well known by healthcare consumers and stakeholders. In November 2019, the Centers for Medicare and Medicaid Services released a final rule establishing requirements for hospitals operating in the United States to establish, update, and make public a list of their standard charges for the items and services they provide. The provisions of the final rule are effective on January 1, 2021. This paper provides a summary of the key provisions of the final rule that apply to hospitals, briefly touching on topics that require additional consideration by parties affected by the rule.