CBS 11 News Reporter Brian New paid a visit to the DFW Hospital Council (DFWHC) offices this afternoon to interview our President/CEO W. Stephen Love on hospital pricing.
With hospital pricing transparency rules taking effect January 1, CBS is producing a news segment detailing North Texas hospitals’ efforts to post their price lists online in an effort to increase price transparency and empower consumers to make informed choices about care.
Under these new federal regulations, hospitals have to post a list of service prices, called chargemasters, on their websites. However, these lists don’t reflect the final costs most patients pay. The move was an effort by the Centers for Medicare & Medicaid Services (CMS) to increase transparency and elevate the role consumers have in making healthcare decisions.
“Hospitals want to be fully transparent regarding pricing and North Texas hospitals fully support transparency,” Love said. “Hospital pricing is extremely complex. Pricing, costs and payments are different and consumers need to understand those differences.”