Price transparency compliance improved in 2023

Compliance with hospital price transparency requirements is continuing to improve, according to a recent report by Turquoise Health.

Of the 6,357 sampled hospitals, 5,763 (90.7%) posted a machine-readable file (MRF) in 2023. In addition, 562 new hospitals posted MRFs last year.

Hospitals are also increasingly posting complete MRFs that contain cash, list, and negotiated rates for a significant quantity of items or services, according to the report. Of note, 83.1% of the sampled hospitals posted “substantial” negotiated rates in 2023, according to the report.

While this data signals a move in the right direction, it is uncertain how hospitals will fare as the new price transparency requirements in the 2024 Outpatient Prospective Payment System (OPPS) final rule take effect throughout the year. In November, CMS released additional resources to help hospitals prepare to comply with the new requirements, such as a data dictionary web page.

Revenue integrity professionals should review the changes in the 2024 OPPS final rule and identify pertinent compliance deadlines.

Editor’s note: Find more NAHRI coverage on price transparency here.