CMS Price Transparency Suite of Services:
Four modules to ensure your prices are compliant, competitive and easily accessible by consumers.
Watch a short video to see how Panacea’s CMS Price Transparency solution helps your organization be fully compliant.
*HFMA staff and volunteers determined that CDMauditor® – Hospital Zero-Base Pricing® and related modules have met certain criteria developed under the HFMA Peer Review Process. HFMA does not endorse or guarantee the use of this service.
CMS penalties are dramatically increasing in 2022. Panacea provides a comprehensive CMS Price Transparency suite of services –to ensure your prices are compliant, competitive and easily accessible by consumers.
The suite includes the following:
How To Comply With (And Exceed) The CMS Hospital Price Transparency Rule Requirements
The January 1, 2021 deadline has passed, and now providers must take heed before CMS and a legislative gauntlet arrives at their front door.
While it is difficult for many financial managers to accept their negotiated rates being made public, transparency is here to stay in our world and healthcare. It would be more productive to focus first on complying with the rule and then on how having access to that information can be used to one’s advantage – and how, in this new paradigm, hospitals can find creative new ways to leverage existing and new public data. We believe that for those hospitals willing to lead the industry in the world of price transparency, there will be both immediate increased patient satisfaction and imminent future competitive advantages.
Key takeaways from the whitepaper include:
- Specific requirements of the CMS Price Transparency Rule for both the machine-readable file and the 300 shoppable services in a consumer-friendly display
- Why hospitals should continue to update their chargemasters in a rational and defensible manner
- The different types of consumer displays and patient estimation system solutions to ensure patient satisfaction