Originally, Hospital Pricing Specialists assigned a 50% probability that the new law requiring hospitals to publish their contracted rates by 1/1/21 would be upheld.
Given the following 2 recent developments, we have increased this probability to 70%:
1. Credible Trade Secrets Argument Rebuttal
2. Increasing Consumer/Media Pressures for Price Transparency
Credible Rebuttal to Trade Secrets Argument
From HHS’s Summary Judgment Motion: “Plaintiffs, suing on behalf of the hospital industry, want hospitals to be able to keep the rates they negotiate with insurance companies “secret.” But that cat is already out of the bag. When a patient receives a breakdown of a hospital’s rates from his insurance company—as part of his “explanation of benefits” (“EOB”)—he sees the rates that the hospital charged the insurer. The information the Price Transparency Rule principally targets is thus already out there, sitting in the file cabinets and inboxes of millions of patients who are free to share those rates with the world. And patients increasingly are doing just that—manually uploading the charges reflected in their EOBs and medical bills, line by line, to “crowdsourcing” websites—to give other patients a shred of additional information about what a hospital visit will cost."
“American hospitals are taking a scalpel to the hands that feed them. They have received $100 billion in coronavirus bailouts from the federal government, and they can draw on the $349 billion in rescue funds for businesses. At the same time, they have the gall to sue the government — to block new federal rules requiring them to come clean about their opaque prices.”
Colleagues, I would encourage you to request a proposal from HPS to meet the new CMS Price Transparency Requirements, should they be upheld by the Courts and enforced as of 1/1/21. We have a guarantee to make the 1/1/21 compliance deadline for new client agreements we accept by 6/1/20. Please be assured that HPS is uniquely positioned to enable hospitals to meet the new requirements, and we are:
100% Compliant. Cost Effective. Headache Free.
In order to generate a proposal, I just need a quick 15-minute intake call to assess how many payer contracts we will need to analyze. To schedule this call, click on my private calendar link [HERE].