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Hospitals required to create new 'price menus'


Hospitals required to create new price menus
Law now requires hospitals make their costs public
and last updated 2020-12-30 18:32:06-05
GRAND RAPIDS, Mich. — When the calendar flips to 2021, a new set of federal laws will make it easier for patients to plan their medical care.
The laws, a mandate from federal health departments like DHHS and CMS, require hospitals and health systems to publish the costs of many of their services online in a format easily accessible to patients. Hospitals must list at least 300 required services, and many will list the prices of far more.
“This includes care for doctors as well as drugs, supplies and facility fees,” says Dr. Mark Fendrick, director of U Michigan’s Center for Value Based Insurance Design. “More price transparency would inject greater competition into the healthcare market and ultimately improve quality at lower costs.” ....

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