Price transparency for hospitals

Are you in compliance?

The price transparency mandate is in effect.

Your hospital must disclose gross charges, cash prices and negotiated rates for all services in the hospital charge description master (CDM) in a machine-readable format. You must also make 300 shoppable services publicly available in a searchable, consumer-friendly format.

Even in ideal times, this would be a considerable challenge for hospitals. That’s why Wipfli’s team of specialized healthcare and technology consultants has created a ready-made solution.

All services file

Wipfli provides a machine-readable all services file with current chargemaster by item for billed charges and self-pay rates, plus:

  • Median charges by diagnosis-related group (if available)
  • Median allowable amounts for selected payors and self-pay patients by diagnosis-related group
  • Average reimbursement as a percent of charges for selected payors
  • Contract payment terms for selected payors

Shoppable services file

We help you select 300 shoppable services to provide in a consumer-friendly format. Shoppable service file includes:

  • CMS required shoppable services provided by the hospital
  • Additional shoppable services to achieve the 300-service reporting requirement
  • Data visualization feature

The difference Wipfli can make

We provide your healthcare organization with data analysis consultation and pricing strategy to ensure your pricing information is accurate and in compliance with all requirements. From scrubbing your data files to determining median charges, we assist you every step of the way.

Hospitals that do not comply with pricing transparency requirements may be subject to civil monetary penalties of up to $300 per day. Let Wipfli help you get into compliance now.

Want to learn more? Fill out the form below.