New federal policy requires hospitals to share cost of services

WASHINGTON D.C. — A recent survey found one in four Americans is struggling to pay off medical debt.

Lawmakers from both parties say they want to lower healthcare costs.

They’re zeroing in on the effectiveness of a new federal policy called the hospital transparency rule.

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The rule requires hospitals to share the price for services that can be planned in advance.

That means outlining a description and any other hospital services that typically come with it.

This includes things like X-rays and outpatient visits.

If hospitals don’t comply with this rule, then the Centers for Medicare & Medicaid Services can take action.

The federal agency can issue a warning, request an action plan, and even impose financial penalties.

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During a recent hearing, a hospital executive told lawmakers this system is helpful for patients.

But he said there are still some challenges.

“Health insurance plans change every single year. Our regulations are changing consistently. We’re spread thin as leaders, so, of course, managing those constant changes, pricing strategies, payer contracting,” Matt Forge, Chief Executive Officer of Pullman Regional Hospital said.

Some experts also believe hospitals should be required to publish data in a standard format so it’s easier for patients to understand.

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