How to Avoid Price Transparency Monetary Penalties
While price transparency mandates have been in effect since Jan. 1, initial audits reveal widespread noncompliance among hospitals. A new proposed ruling would significantly increase annual monetary penalties up to $2 million for a 550-bed hospital beginning Jan. 1, 2022. Price transparency is here to stay, and hospitals that continue to play this high-stakes game will pay greatly. Get your copy of the eBook to learn how to avoid millions in financial penalties, improve patient satisfaction and increase revenue using integrated patient access and engagement.
Beckers Hospital Review is offering an eBook on how to learn:
• How to meet price transparency compliance and what stiffer financial penalties are at stake in 2022 under the newly proposed rule
• How automating critical functions in patient access helps maintain the data integrity necessary to generate accurate price quotes, increasing your ability to collect payment prior to service
• Why a consistent patient financial experience is critical to increasing patient satisfaction and trust, and why aligning price estimates and quotes requires one platform
• How combining a machine-readable file, patient-facing estimation tools and payments exceeds compliance measures, enables consumerism and maximizes revenue.
Visit: Beckers Hospital Review to download the whitepaper.