CHA News Article

HFMA Issues Report on Price Transparency
CHA participated on report task force

The Healthcare Financial Management Association (HFMA) released a report April 16 on price transparency in health care. The report was drafted by a multi-stakeholder task force that included CHA, as well as other provider, insurer and consumer groups such as the American Hospital Association, the Catholic Health Association of the United States, America’s Health Insurance Plans, and Catalyst for Payment Reform.

It describes guiding principles for price transparency, policy considerations and recommendations developed by the task force to help consumers understand their financial obligation for health care services. The report also emphasizes that achieving a more transparent system will require consensus among hospitals, physicians and other providers, as well as pharmaceutical and medical device manufacturers, commercial and government payers, patients and consumer advocates, and regulatory agencies.

In conjunction with the report, HFMA released a consumer guide to health care prices, including specific questions for consumers to ask in order to determine the price of the health care services they will receive. The consumer guide includes different instructions for insured patients, uninsured patients, and Medicare beneficiaries to help them understand the costs associated with their care. Both the report and the consumer guide  — linked below — we’re released during a roundtable discussion in Washington, D.C., that CHA attended.

Price Transparency in Health Care

Understanding Health Care Prices: A Consumer Guide