{"id":412804,"date":"2021-01-12T07:03:39","date_gmt":"2021-01-12T12:03:39","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=412804"},"modified":"2021-01-12T07:03:39","modified_gmt":"2021-01-12T12:03:39","slug":"change-healthcare-helps-providers-comply-with-cms-price-transparency-rule","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/change-healthcare-helps-providers-comply-with-cms-price-transparency-rule\/","title":{"rendered":"Change Healthcare Helps Providers Comply with CMS Price Transparency Rule"},"content":{"rendered":"

<\/p>\n

Change Healthcare Helps Providers Comply with CMS Price Transparency Rule<\/b><\/p>\n

\nThe goal is to help providers comply with CMS regulations by providing consumer-friendly pricing information and online healthcare shopping solutions\n<\/p>\n

NASHVILLE, Tenn.–(BUSINESS WIRE<\/a>)–
\nToday, Change Healthcare (Nasdaq: CHNG) highlighted two options to help providers meet the new CMS price transparency requirements. The Transparency module for the company\u2019s online healthcare eCommerce solution, Shop Book and Pay<\/a>\u2122, lets patients view pricing for shoppable healthcare services from multiple providers, helping make the process of shopping for healthcare as easy as online retail shopping. The Clearance Estimator Patient Direct<\/a> solution provides financial estimates for a patient\u2019s out-of-pocket cost for visits, tests, and procedures. Both options also allow patients to view the hospital\u2019s complete pricing data for all services, presenting them with valuable comparison data and giving providers a single-vendor solution to help comply with all CMS transparency regulations.\n<\/p>\n

\nThe CMS Hospital Price Transparency Final Rule<\/a> requires hospitals to publish a machine-readable file of their standard charges for all services. The deadline was Jan. 1, 2021. This data includes the gross charge, discounted cash price, payer-specific negotiated charges, and the de-identified minimum and maximum charges negotiated with all third-party payers, as well as relevant billing codes and the physical location of each service. Hospitals must also provide potential patients with an online price estimator tool or consumer-friendly searchable list for 70 CMS-specified shoppable services, plus 230 provider-chosen shoppable services. As noncompliant hospitals face daily fines of $300 per location, health systems nationwide are in urgent need of technology to help them meet both CMS requirements.\n<\/p>\n

\nBy creating a convenient digital storefront for potential patients, the Shop Book and Pay\u2122 solution helps providers compete in the marketplace and differentiate their business in a crowded market. Patients can conduct a search for a specific procedure, selecting their insurance provider and plan to receive a list of available locations and full pricing information. With implementation of the Book and Pay modules, the patient can select an appointment time and complete pre-payment up front, before care is given. Clearance Estimator Patient Direct allows patients to search for common procedures and services via their provider\u2019s website. Using historic procedure charge data coupled with real-time, patient-specific benefit data, the solution returns a personalized estimation of the patient\u2019s out-of-pocket cost.\n<\/p>\n

\n\u201cAccording to recent consumer research<\/a> conducted by Change Healthcare and The Harris Poll, more than half of consumers have avoided seeking healthcare because they weren\u2019t sure what the cost would be,\u201d said William Krause, vice president of the Connected Consumer Health\u2122 solution at Change Healthcare. \u201cThe CMS rule is intended to remove that uncertainty and empower consumers to make more informed choices. We help providers not only to comply with the CMS rule, but also to create a seamless digital patient experience.\u201d\n<\/p>\n

\nTo get started with the Shop Book and Pay<\/a>\u2122 solution, organizations should contact Change Healthcare as soon as possible to begin the implementation process. Health systems can either provide their own charge summary data or receive assistance in consolidating payer contracts from a Change Healthcare consultant. Change Healthcare customers who are already live on Clearance Estimator<\/a> can contact their account management team for details on how to implement Clearance Estimator Patient Direct.\n<\/p>\n

\n\u201cPrice transparency is going to accelerate healthcare\u2019s consumerism trend,\u201d said Steve Mach, director of Patient Financial Services at Halifax Health. \u201cProviders will need to leverage pricing strategies in order to compete for consumers, and we plan to do that by partnering with Change Healthcare on Shop Book and Pay.\u201d\n<\/p>\n

\nFor more information about how Change Healthcare can support your hospital\u2019s compliance with the CMS Price Transparency rule, visit our Price Transparency in Healthcare<\/a> site.\n<\/p>\n

About Change Healthcare<\/b><\/p>\n

\nChange Healthcare (Nasdaq: CHNG) is a leading independent healthcare technology company, focused on accelerating the transformation of the healthcare system through the power of the Change Healthcare Platform. We provide data and analytics-driven solutions to improve clinical, financial, administrative, and patient engagement outcomes in the U.S. healthcare system. Learn more at changehealthcare.com<\/a>.\n<\/p>\n

\nFor more information on Change Healthcare, please visit our website<\/a>, hear from our experts at Insights<\/a>; Follow us on Twitter<\/a>; Like us on Facebook<\/a>; Connect with us on LinkedIn<\/a>; and Subscribe to us on Libsyn<\/a>, Apple Podcasts<\/a>, Google Podcasts<\/a>, and YouTube<\/a>.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210112005234\/en\/<\/a><\/span><\/p>\n

\nKatherine Wojtecki
\n
External Communications
\n
Change Healthcare
\n
630-624-9142
\n
Katherine.wojtecki@changehalthcare.com<\/a><\/p>\n

KEYWORDS:<\/b> Tennessee United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Software Insurance General Health Health Data Management Hospitals Professional Services Technology<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
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Change Healthcare Helps Providers Comply with CMS Price Transparency Rule The goal is to help providers comply with CMS regulations by providing consumer-friendly pricing information and online healthcare shopping solutions NASHVILLE, Tenn.–(BUSINESS WIRE)– Today, Change Healthcare (Nasdaq: CHNG) highlighted two options to help providers meet the new CMS price transparency requirements. The Transparency module for the company\u2019s online healthcare eCommerce solution, Shop Book and Pay\u2122, lets patients view pricing for shoppable healthcare services from multiple providers, helping make the process of shopping for healthcare as easy as online retail shopping. The Clearance Estimator Patient Direct solution provides financial estimates for a patient\u2019s out-of-pocket cost for visits, tests, and procedures. Both options also allow patients to view the hospital\u2019s complete pricing … <\/p>\n

Continue reading “Change Healthcare Helps Providers Comply with CMS Price Transparency Rule”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-412804","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nChange Healthcare Helps Providers Comply with CMS Price Transparency Rule - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/change-healthcare-helps-providers-comply-with-cms-price-transparency-rule\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Change Healthcare Helps Providers Comply with CMS Price Transparency Rule - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Change Healthcare Helps Providers Comply with CMS Price Transparency Rule The goal is to help providers comply with CMS regulations by providing consumer-friendly pricing information and online healthcare shopping solutions NASHVILLE, Tenn.–(BUSINESS WIRE)– Today, Change Healthcare (Nasdaq: CHNG) highlighted two options to help providers meet the new CMS price transparency requirements. The Transparency module for the company\u2019s online healthcare eCommerce solution, Shop Book and Pay\u2122, lets patients view pricing for shoppable healthcare services from multiple providers, helping make the process of shopping for healthcare as easy as online retail shopping. The Clearance Estimator Patient Direct solution provides financial estimates for a patient\u2019s out-of-pocket cost for visits, tests, and procedures. 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