Well there is a first time for everything. This week marked a big one. On 6/8, CMS issued its first fines under federal price transparency rules which took effect in January of last year. Two Georgia hospitals were fined close to $1.1M for failing to disclose their prices. Shockingly, an analysis performed recently that examined hospital websites between July and September 2021:
- Only 6% of over 5,200 U.S. hospitals complied by posting the two required price lists.
- About 14% had just the comprehensive price list posted to their website
- 30% published the list of shoppable prices.
- CMS sent 350+ warning letters to hospitals as of June, and about 160 hospitals have yet to be in compliance.