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Price Transparency 2022 Price Transparency 2022
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Price Transparency 2022
Hospital Perceptions of CMS Regulation

author - Dustin Cragun
Author
Dustin Cragun
author - Alex McIntosh
Author
Alex McIntosh
author - Tyler Sycamore
Author
Tyler Sycamore
 
April 21, 2022 | Read Time: 6  minutes

Current Time Inside Cache Tag Helper: 5/21/2022 7:13:38 PM and Model.reportId = 2027

As of January 1, 2021, all US hospitals must comply with CMS’ price transparency regulation, which stipulates that hospitals must provide clear, accessible pricing estimates online for at least 300 different shoppable services. Many healthcare organizations have expressed that a variety of challenges make this mandate difficult to meet. In this perception report, KLAS interviewed 66 revenue cycle leaders to understand how hospitals are responding to the regulation and their future plans around price transparency. Going forward, KLAS intends to continue to measure and provide insights into the consumerization of healthcare.

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Current Time Inside Cache Tag Helper: 5/21/2022 7:13:38 PM and Model.reportId = 2027

Key Findings:

  1. Though Respondents See Value in Price Transparency, Most Cite Significant Challenges around Regulation Deployment
  2. Most Respondents Say Significant Resource Investment Is Needed to Sustain Price Transparency
  3. Respondents More Satisfied Overall with Third-Party Solutions, though EMR Vendors Highly Likely to Gain Market Share in the Future
  4. Confusion Abounds around Regulation Expectations and Needs
author - Sarah Hanson
Writer
Sarah Hanson
author - Jessica Bonnett
Designer
Jessica Bonnett
author - Isaac Burgi
Project Manager
Isaac Burgi
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This material is copyrighted. Any organization gaining unauthorized access to this report will be liable to compensate KLAS for the full retail price. Please see the KLAS DATA USE POLICY for information regarding use of this report. © 2022 KLAS Research, LLC. All Rights Reserved. NOTE: Performance scores may change significantly when including newly interviewed provider organizations, especially when added to a smaller sample size like in emerging markets with a small number of live clients. The findings presented are not meant to be conclusive data for an entire client base.