AccuReg Founder and CEO Authors HIT Consultant article, “How Fines Push Hospitals to Go Beyond CMS Price Transparency Rules”

Although slow to ramp up, CMS is cracking down on price transparency noncompliance, with two hospitals facing $880,000 and $214,000 in fines while hundreds of other hospitals have been issued warnings or corrective action plan requests.

In the HIT Consultant article, “How Fines Push Hospitals to Go Beyond CMS Price Transparency Rules,” by AccuReg Founder and CEO Paul Shorrosh, Shorrosh says that hospitals need a strategic approach to compliance that involves more than machine-readable files and a display of shoppable services. Rather, hospitals must focus on delivering a positive patient financial experience−one that enables patients to be more engaged in healthcare purchasing decisions and provides transparency into out-out-pocket costs, all while improving the hospital’s bottom line.

To accomplish this, Shorrosh says, requires a single, integrated solution that uses intelligent automation to audit patient data, insurance information and payment information and enables patients to digitally self-generate estimates and make payments.

Read the full article in HIT Consultant for more insight into developing a price transparency compliance strategy that improves patient experience while increasing staff efficiency and upfront cash collections.