In an effort to make prices transparent and easily accessible for patients, a final rule by the Centers for Medicare and Medicaid Services (CMS) issued in April is starting to take place for the New Year.
The rule, slated to be taken into effect by January 1, 2019, is requiring hospitals across the country to post their prices publicly online. The rule is meant to be for Medicare patients and providers, but the CMS hopes that hospitals across the country will adapt this practice for all services.
The new rule aims to give consumers easy access to prices, although the exact final price may be different due to differences in insurer and government rates. The rule also requires hospitals to update the prices yearly, or else face a penalty.
Read the original article from Modern Healthcare here.