Question

Explain key aspects of this transparency rule, including the rule that required hospitals to post their standard charges online, the agency that established this rule, and the purpose of the rule. Do you think it will serve its intended purpose? Why or why not?

Answer 1

Under the hospital price transparency rule hospital need to publish their health care cost online through a machine readable format. They will need to create atleast 300 shopable services including 70 selected by the cms. Under this rule hospitals would have to disclose their charges they negotiate with third party which may be illegal.

Some says that it can cause negative impact on insurers that they need to compete for business. Also it may increase administrative work.hospitals are not free it requires additional charges for smooth running thus by implementing such rule it must be hard.