Former CMS Chief Litigation Counsel Says Non-Compliance Penalty May Dwarf $300/Day Estimate
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 firstname.lastname@example.org
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].