Former HHS Deputy Secretary Gives 2 Reasons Why Hospitals Should Comply with Price Transparency
November 10, 2021
In a recent interview with former HHS Deputy Secretary Eric Hargan, he provides two reasons why hospitals should comply with the price transparency requirements:
1. THE FINES ARE GOING UP
"If you just simply say, 'I'm not going to comply, forget about it. I'll take the fines,' the government may take that as a signal that, well, I'm not getting compliance, I'll just go ahead and increase the fines until I get compliance," he says. "That's not really a situation where you want to be."
2. PARTICIPATING HOSPITALS MAY HAVE A SAY IN THE NEXT GENERATION OF PRICE TRANSPARENCY RULES
It "allows people to have a seat at the table and determine where these things are going to go in the future because I don't anticipate this is the last word on this issue," he says. "Being at the table is the best place to be early on. And I think it's early on. It's my best guess we're early on in that process and it's going to persist over [presidential] administrations, just like value-based care did."
If your hospital or hospital client needs help with price transparency compliance, HPS is here to help. Feel free to schedule a time to talk on my private calendar: go.oncehub.com/ricklouie
We can help you become fully compliant in a short amount of time, and done in such a way that won't break your budget.