Starting January 1st hospitals will start publicly posting its prices on the internet.
It’s all thanks to the passage of a new rule back in April. The move is the Centers for Medicare & Medicaid Services’ latest effort to give patients more information about the cost of health care and about their own medical history so they can better direct their own care.
The guidance applies mainly to Medicare patients and providers, but officials expect it will influence practices across the nation’s health care system.
The prices posted online, however, may not reflect the actual amount most patients pay since insurers and the government negotiate different rates and often cover a major portion of the bill.
The new rule also mandates that hospitals update their prices every new year. Those that don’t will face a penalty, according to CNN.
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