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Since January 1, 2023, the Transparency in Coverage Rule has required health insurance providers to make pricing information publicly accessible to help consumers shop for health care services based on cost, but many insurers have been slow to comply, with some dumping unusable data, thus failing to achieve the intended cost-lowering transparency.
The recent Transparency in Coverage Rule marks a monumental shift in health care by requiring health insurance companies to disclose prices to the public.…
To enable consumers to compare prices across providers, insurance companies should be required to provide public APIs to retrieve patient responsibility.
Here are a few key mistakes we’ve made as an industry and how we can right the ship to finally make this modernization a reality.
In looking ahead to 2024, the healthcare industry stands at the cusp of a transformative era of transparency. With impending regulatory changes and growing consumer empowerment, the landscape is poised for continued meaningful progress.