BKD Offers Price Transparency Solutions for Health Care Providers
NATIONAL OFFICE – To better serve clients, BKD National Health Care Group has expanded its Health Care Performance Advisory Services (HCPAS) offerings to include services to aid and guide providers as they navigate the final rule on price transparency published by CMS in November 2019.
The new requirements call for hospitals to implement a more transparent pricing strategy for items and services provided to patients. While hospitals and health systems have until January 1, 2021, to meet the requirements in CMS’ final rule, it’s crucial that they start evaluating how they’ll collect and report on the required elements.
“Our team understands that being prepared to meet the price transparency requirements can be challenging and that the deadline is quickly approaching. We are providing a range of assistance to help hospitals prepare and assess overall organizational pricing strategy,” said Jackie Nussbaum, BKD HCPAS director.
BKD’s price transparency services include conducting a readiness assessment, regulatory requirement assistance, transparent pricing strategies and consumer price estimation readiness. With these solutions, BKD’s experienced HCPAS professionals can assist health care providers in meeting CMS’ requirements, as well as evaluating and establishing pricing that’s rational, transparent and defensible while assessing the effect of price changes on the bottom line.
“We are recommending our clients view this regulatory requirement as an opportunity to provide to patients the data they need regarding their financial liability for the services they receive,” said Brenda Christman, BKD HCPAS managing director.
Visit bkd.com/pricetransparency to learn how BKD can help health care providers navigate the new price transparency requirements.