Prepare to Comply with CMS’ New Price Transparency Rule from 2019

To increase price transparency for consumers, CMS has updated its guidelines. Starting 2019, your hospital will have to publish its list of standard charges in an easily accessible online platform for patients. This could either be in the form of a chargemaster or another form in a machine readable format. The process of establishing charges for the chargemaster has always been difficult. But the added burden of displaying transparent pricing has increased the burden and complexity of meeting regulatory requirements and rising patient expectations.

Learn how to prepare for the impending 2019 CMS price transparency ruling in this audio conference by industry expertDuane Abbey. Abbey will explain why hospital charges and pricing are in the spotlight, discuss the need for transparent pricing, and walk you through the requirements for transparent pricing starting 2019. Abbey will explain why the charges are important for APCs and DRGs, discuss the cost report and cost-to-charge ratios (CCRs), and explain other key issues such as the concept of ‘charge compression’, and special charge development techniques. He will also show you how to recognize when charges may be inappropriate and when full charges are not being reported; understand how charges and pricing impact the cost report; and the action steps to adjust pricing.

After attending this session, you will be in a better position to comply with CMS’ new 2019 transparent pricing requirements. Plus, you will be totally clear about CCRs, charge compression, special charge development techniques, and other key concepts and issues that matter.

Session Highlights

You will learn:

• Why hospital charges and pricing are in the spotlight
• The need for transparent pricing and public relations
• How hospital prices became inflated
• The transparent pricing requirements from 2019
• Why charges are important for APCs and DRGs
• What is all the fuss about ‘charge compression’
• How to control your cost-to-charge ratios
• How to price your devices, supplies, drugs, and biologicals
• How to know whether you are missing any charges in connection with supplies and pharmacy items
• How to adjust pricing and address charge compression
• About the impact of APC and DRG on reimbursement
• How your pricing structure impacts the cost report

Who Should Attend

• Chargemaster coordinators
• Billing and claims generation personnel
• Compliance personnel
• Patient financial management personnel
• Cost accounting personnel
• Cost report personnel
• Financial analysts
• Managed care contract personnel
• Revenue enhancement personnel
• CFOs
• CCOs
• Financial planners
• Reimbursement specialists, revenue cycle specialists, PR specialists, planning specialists, and all other hospital personnel interested in pricing