CMS Proposes Increased Price Transparency Compliance Penalty Up to $2MM per Hospital
July 19, 2021
In the Proposed Rule just filed today and scheduled to be published on 8/4/21, CMS is proposing a significant increase in the penalty for non-compliance with the price transparency rules.
At present, the penalty is $300/day for non-compliance of the price transparency rules. This amount applies to all hospitals, regardless of their bed size.
The new penalty would vary depending on a hospital's bed size, with a bed count of 30 or fewer paying a penalty of $10/bed/day. For hospitals greater than 30 beds, the daily penalty can range as high as $5,500 per day. Therefore, the minimum total penalty amount would be $109,500 per hospital, and the maximum total penalty amount would be $2,007,500 per hospital.
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.