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Why Healthcare Price ‘Transparency’ Is A Myth, And What Consumers Can Do About It

In April 2018, the Centers for Medicare and Medicaid Services (CMS – Medicare) issued a draft rule intended, generally, to nudge health systems toward several initiatives. These included improving the use of electronic health records and IT interoperability, providing greater price transparency of services, and empowering physicians to spend more time with their patients. This mandate went live on January 1 of this year.

Tucked into the rule is the instruction that hospitals publish their prices online for consumers. The price lists must be updated annually and in an “electronic” format.