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November 4, 2021


Dear Colleagues,
 

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.


Regards,

Rick Louie
Managing Director
Hospital Pricing Specialists LLC

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

Watch video of Shark Tank's Mr. Wonderful endorsing HPS Price Transparency services [Click Here]



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