Report: Mayo Clinic In Compliance With Price Transparency Rule
Rochester, MN (KROC AM News) - Of the nine Minnesota hospitals included in a report dealing with pricing transparency, only Mayo Clinic was found to be in compliance with a law that was passed last year.
The report was issued Thursday by PatientRightsAdvocate.org, described as a “nonprofit, nonpartisan organization focused on ushering in systemwide healthcare price transparency.”
According to the PRA report:
Under the authority of the Affordable Care Act (ACA), a federal hospital price transparency rule took effect January 1, 2021, requiring hospitals to post all prices online, easily accessible without barriers such as having to submit personal identifying information. Prices are required to be in the form of:
- A machine-readable standard charges list for all items and services for all payers and all plans as well as all discounted cash prices.
- A standard charges list or a price estimator tool for the 300 most common shoppable services.
The February 2022 report assessed the compliance with the law by reviewing 1,000 U.S. hospitals out of the over 6,000 accredited hospitals in the country.
Of the 1,000 total hospitals reviewed:
• Only 14.3% were complying with the transparency rule.
• Only 37.9% of the hospitals posted a sufficient amount of negotiated rates, but over half were not compliant in other criteria of the rule, such as rates by each insurer and named plan.
Minnesota hospitals included in the report:
Mayo's hospitals in Arizona and Florida were also listed as compliant.
This report follows PatientRightsAdvocate.org’s initial Semi-Annual Hospital Price Transparency Compliance Report released last July, which found that of 500 hospitals sampled, 94.4% were noncompliant.
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