CMS has fined 15 hospitals so fara for related violations.
Miami-based Jackson Memorial Hospital has become the first hospital this year to be fined for a price transparency violation.
According to the Centers for Medicare & Medicaid Services (CMS), the hospital was found in violation of failing to display shoppable services in a consumer-friendly manner and not meeting requirements for hospital standards charges.
These violations relate to the price transparency rule enacted by the agency in July, which requires hospitals to report price information in a "standard machine-readable" format, accessible through a link in the footer at the bottom of their homepage.
The hospital launched its price estimate tool, Care Qoute, in 2016, which provides estimates for over 200 services based on patient's insurance coverage.
One way health systems can make sure they're in complaince with price transparency requirements is to have a team dedicated to overseeing their efforts. At Lifepoint Health, staff from the revenue cycle operations and analysis, compliance, managed care, legal, and project management departments meet regularly to ensure they're aware of updates from CMS.
Jasmyne Ray is the revenue cycle editor at HealthLeaders.
KEY TAKEAWAYS
The hospital in the first to be fined for a price transparency violation this year.