The New Reality of Patient-as-Payer

In theory, health care consumerism is a straight-forward idea: Shifting costs to consumers, typically in the form of high-deductible health plans (HDHPs), gives them an incentive to make informed decisions about the health care services they purchase. In practice, consumerism represents a significant challenge to providers’ bottom lines. A recent report reveals that for 74% of providers, patient collections take over a month. Further, 66% of providers said patient receivables are a primary revenue concern.  Please click on this link to view the entire article. Health Care Consumerism.

COURT RULES THAT HOSPITAL PRICE TRANSPARENCY REQUIREMENTS CAN TAKE EFFECT

The Department of Health and Human Services (“HHS”) received a victory this week in the litigation challenging the agency’s final rule that requires hospitals to publicly disclose the prices they charge, as well as their specific reimbursement rates with third-party payers (“Price Transparency Rule”). The Price Transparency Rule is scheduled to go into effect on  January 1, 2021.The court’s decision comes amid calls from across the industry to delay the Price Transparency Rule’s effective date to allow hospitals, already burdened by COVID-19, more time to prepare for the arduous publication requirements. With the effective date only a few months away, however, this court victory, combined with indications HHS appears committed to the current timeframe, means hospitals must continue preparing to meet the requirements included in the Price Transparency Rule.  For more information please click on this link