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Will the New Hospital Pricing Transparency Law Be Effective? | The Legal Examiner

On Jan. 1, a new law came into effect that requires hospitals in the United States to post the prices of all of their offered services and procedures online. This law, called the Inpatient Prospective Payment System rule, was designed with the intention of increasing medical bill transparency for patients. Some worry, however, that the high price-tag that comes with most procedures will confuse and turn patients away from seeking medical care. This could then force hospitals to decrease product quality to match competitive prices.

The prices listed on hospital websites will almost never be representative of the actual out-of-pocket cost for patients. Factors such as an individual’s health insurance policy, deductibles, co-pays, and even what time of year it is all impact hospital costs, none of which are taken into consideration in the newly listed prices. In other words, each individual patient’s circumstances are unique, so the price they will have to pay cannot be accurately estimated by a single price.

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Will the New Hospital Pricing Transparency Law Be Effective? | Washington, DC Personal Injury Lawyer.

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