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Dear Colleagues,
 

There's 115 days until the new price transparency rules are in effect. 

In the meantime, I wanted to give you an update on the penalty for non-compliance.  Some of my clients have acquiesced in paying the $300/day penalty that's stated in the Final Rule.  However, according to Mark Polston, former CMS chief litigation counsel and a partner in King & Spalding’s Healthcare practice, the penalty could be much more severe.

Mark specifically says, "CMS will now require hospitals to report on a yearly basis the average rates they negotiate with Medicare Advantage plans. If a hospital fails to report that information, CMS has given itself the authority to deny all of the hospital’s Medicare reimbursement for the entire year -- a penalty that dwarfs the $300-per-day penalty CMS previously threatened."  If you have questions on this interpretation, you can reach Mark at 202-626-5540 or by email at mpolston@kslaw.com

Time is running out to meet the new requirements.  If you're interested in working with a vendor who you can outsource all of these requirements to, schedule a call with me by clicking here [SCHEDULE CALL].  After the end of this month (September), we can not guarantee that we will meet the 1/1/21 deadline for new clients.

If you missed our webinar to HFMA that describes our services, a full recording can be watched [HERE].




Regards,

Rick Louie
Managing Director
Hospital Pricing Specialists LLC

LinkedIn Profile:  https://www.linkedin.com/in/ricklouie/

Click Here to [Schedule a free 15-minute meeting with me.]



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