Hospitals Now Required To List Prices Of Standard Services Online

Price transparency New federal law allows patients to check hospital pricing online

Many Americans have left the hospital concerned or surprised at how much or little they've spent for a service there.

According to the new rule, hospitals have to update their price lists at least once a year.

According to Newsweek, a new federal rule will require hospitals across the country to list their prices online beginning on January 1, 2019.

Encourage further transparency from providers, including providing tools for comparing prices and making public which institutions are out of compliance with transparency measures.

If you're laying in a hospital bed the cost of the medications and procedures may not be top of mind, but it can certainly be a shock when you get that medical bill in the mail.

Some hospital officials warn the published prices might not match the actual prices, which can vary with insurance companies. "We know that hospitals have this information and we're asking them to post what they have online". Most insurance plans nowadays have an annual limit on how much patients must pay in copays and deductibles - although traditional Medicare does not. But the new rule, which was announced in April, requires them to post these prices online in a format that can be downloaded to computers.

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