Final Rule sets higher hospital fines for failing to comply with price transparency rules
November 4, 2021
Beginning Jan. 1, the Biden administration will increase the penalty for non-compliance with the hospital price transparency requirements.
The Final Rule (to be published on 11/16/21) will set a minimum civil monetary penalty of $300 per day for hospitals with 30 or fewer beds. For hospitals with more than 30 beds, they will be charged $10 per bed per day, which will cap at $5,500 daily.
Example: 250-bed hospital that is not publishing a compliant machine-readable file Daily Penalty:$2,500 = 250 X $10/day Annual Penalty: $912,500 ($2,500/day x 365 days)
The American Hospital Association immediately issued a response to the increased penalties:
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.