New Medicare Payment Rules Encourage Transparency for Hospitals

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Hospitals to post pricing online

In order to increase transparency between hospitals and patients, Medicare has created a new payment rule that would require hospitals to post their standard prices online.

The goal of this move is to help patients know what medical services and items cost before they undergo expensive medical treatments. Ideally, it would allow patients to become better-educated decision makers when it comes to their healthcare.

However, some argue that this feature will only confuse patients because it does not reflect the portion insurance companies will pay. Any patients who are concerned about their out-of-pocket hospital costs should speak to their insurer.

Electronic records rule

Additionally, the rule requires hospitals to make electronic records more readily available to patients so they can play a more active role in their healthcare. Many healthcare providers already do this, but this new rule would encourage providers who might be behind-the-times to use electronic patient records more often.

CAR-T

There is a new immunotherapy on the market for cancer treatments called CAR-T, and Medicare is discussing how to cover it. Currently, this gene therapy that turbocharges a patient’s immune system can run more than $370,000, making it cost-prohibitive for most patients.

Stay tuned to Medicare World for up-to-date Medicare news.

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