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Newly required cost transparency empowers patients and their families,
Hospitals and other medical providers are being forced to display prices charged to patients for certain medical procedures, thanks to tough new federal enforcement federal guidelines to punish violators of the price transparency rules that rolled out in 2021.
Even as a new law, the No Surprises Act, will begin protecting patients against unfair out-of-network health care bills, many hospitals still remain stubbornly non-compliant with the Hospital Price Transparency Rule implemented in January 2021, as they continue to hide pricing that gouges patients’ pocketbooks.
The new transparency regulation is more important than ever. Over a recent six-year period, medical costs have doubled. Striving to find a better way to handle rising medical costs and obtain price transparency for medical services, more than a million Americans have turned to Health Care Sharing Ministries, according to the Alliance of Health Care Sharing Cost transparency may be new to some patients and medical professionals, but seeking transparency is nothing out of the ordinary for members of Health Care Sharing Since 2019, billions of dollars in medical expenses have been shared between the members of Health Care Sharing for health care services in all 50 states.
While the new transparency law concerning medical costs is helpful, it is not always easily accessible or usable to the patients’ advantage.
“Despite government regulations, many hospitals still have inconsistent and hidden pricing,” “Many people believe that patients just have to accept this opaque system where you find the price after the fact. But the truth is, hospitals are required to comply, and consumers can report their hospitals to the federal government for defying the law. What’s more, even if a hospital is posting its prices, that doesn’t have to be the end of the conversation—uninsured patients can negotiate discounted rates. Indeed, Health Care Sharing support their members in negotiating better deals in health care every day.
