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Hospital Price Transparency

The hospital price transparency mandate presents new regulations and new challenges. Vitalware Hospital Price Index (HPI) will help you meet them. At the end of 2019, President Trump issued an executive order expanding on the previous price transparency measures for healthcare providers. The new mandate goes into effect on January 1, 2021, with a steep $300 per day penalty attached for non-compliance.

Hospital Price Index™

Helping Hospitals Comply With Price Transparency Regulation

Hospital Price Index is Vitalware's solution to help hospitals comply with price transparency regulation. Already in effect, the mandate has been significantly expanded, and the new requirements will go into effect January 1, 2021—with stiff penalties possible for noncompliance. Vitalware HPI can help you face the new price transparency regulations with confidence.

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Full Compliance with a Single Solution

The industry has placed significant focus on the price transparency requirements for "shoppable items", causing many hospitals and vendors to look past the "all services" portion of the mandate. The updated regulation requires the public posting of your chargemaster, shoppable services, and all services. Hospital Price Index provides all three distinct, but necessary, views.

Hospital Price Index

Reviewing all the requirements around price transparency can be daunting. Download our quick overview of how HPI gets you in compliance without the stress.

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Value Beyond Compliance

The number one goal with developing Hospital Price Index (HPI) was to help hospitals fully comply with the price transparency mandate, and to do it with less effort and stress than it’d take to do it on their own. With the compliance foundation in place, we are now including additional value around patient education and price benchmarking your newly created service packages.

Service Package Benchmarking

By including commonly reported services, HPI service package benchmarking gives you an apples-to-apples comparison of two competitors’ TOTAL cost of procedures. This is a new level of analysis beyond just looking at the cost of a single line item, and a useful tool for competitive analysis.

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White-Labeled Patient Education

Patients will have a lot of questions about the pricing they find on your website. When you use Hospital Price Index, you will also receive customizable handouts and web copy to help you explain this information to patients.

Hospital Price Transparency: How to Comply in 2021

In 2019, President Trump issued an executive order expanding on the previous price transparency measures for healthcare providers. In this article, we'll review our understanding of the mandate and provide go-forward suggestions based on the intent of the law.

Feel Confident in Your Compliance

Vitalware Hospital Price Index can help you face the new price transparency regulations with confidence.


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The 2021 Hospital Price Transparency Mandate Overview

Make public your “standard charges” for all items and services provided by the hospital.

Defined as five types of charges:

  • Gross charge
  • Cash price
  • De-identified minimum charge
  • De-identified maximum charge
  • Payer-specific negotiated charges
Make public standard charges on the Internet in a machine-readable file, providing a common framework for comparing standard charges from hospital to hospital.

This includes:

  • Additional information such as common billing and accounting codes
  • “Patient-friendly” descriptions
  • Requirements for annual updates
  • Ensuring information is publically available without charge and without requiring registration