Hospitals must meet a Jan 1, 2021 deadline to comply with the Centers for Medicare and Medicaid Services’ (CMS) Final Rule for updated pricing transparency requirements. The requirements mandate that hospitals must have both a Machine-Readable File of their pricing and negotiated rates and a collection of “Shoppable Services” with the same pricing and rate information to be made public on their websites by the deadline.
CBIZ KA Consulting Services (CBIZ) provides two solutions to assist hospitals in complying with these regulations:
CBIZ offers a comprehensive turnkey solution where we provide everything that your organization needs to comply with the regulations, including Machine Readable files that can be posted to a hospital/health system’s website. We also develop a Shoppable Services list, utilizing the formula required by CMS, which combines CMS-mandated services and a hospital’s high-volume procedures and services. We then review these two components with hospital management prior to publication.
CBIZ also provides a pricing transparency review solution, whereby we provide a blueprint for compliance – the steps and materials a hospital needs to undertake to comply with the regulations. This solution incorporates the following services:
To get started or for additional information about CMS’s 2021 pricing transparency rule, please contact Adam Abramowitz at aabramowitz@cbiz.com or 609-220-5627.