by: Francis Lin, Ozarks First
A new requirement beginning on Jan. 1 calls for all hospitals operating in the U.S. to tell you how much you have to pay for services ahead of time.
This price transparency rule aims to make it easier for consumers to shop and compare prices across hospitals.
CoxHealth has implemented a new price transparency tool that allows patients to estimate the cost of their procedures based on their own insurance plans or for uninsured patients.
The tool separates the procedures into categories. You can select one or more procedures, then click “Get Estimate” to see the price.
As for Mercy Hospital, it is currently evaluating its ability to meet the regulations’ requirements and will release more information once they are prepared.
Keep in mind, the most accurate way to know pricing is to contact your insurance company directly.
CMS will be reviewing non-compliance complaints, and non-compliant hospitals could face civil monetary penalties.