Where Price Transparency Compliance Stands at Mayo Clinic, Providence and 6 Other Systems

The CMS final rule, which took effect Jan. 1, aims to make hospital pricing information readily available to patients to compare costs and make more informed healthcare decisions. To aid with this, hospitals in the U.S. are required to post both a machine-readable file with the negotiated rates for all items and services and display the prices of 300 shoppable services in a consumer-friendly format. 

Meeting the deadline and maintaining compliance is no small feat for providers. CMS estimates that each hospital may spend 150 hours and nearly $12,000 to review and ensure their posted standard charges are accurate and up to date.

In an effort to better understand how hospitals prepared for the onset of the rule and some of the challenges that remain, Becker's reached out to several U.S. hospitals and health systems.