By Paul Shorrosh
President Trump recently announced a new executive order to improve health care price transparency, and hospitals across the country will feel its impact. The order marks meaningful progress beyond the HHS rule from earlier this year that simply required hospitals to post retail chargemasters to their websites. However, it’s only a first step. Meaningful and clear rulemaking from HHS on what the order means in practice will determine whether patients truly get the information they need to make a financially informed health care decision.
I’m an optimist at heart so the prospect of putting more actionable information in patients’ hands is a step in the right direction. I’ve spent the past 15 years building a market-leading healthcare revenue cycle software company so I know how complex it is to provide patients with an accurate estimate of their actual financial responsibility.[Read more…] about Financially Informed Health Care Decisions Require More Than An Executive Order