AccuReg CEO Paul Shorrosh featured in Healthleaders article “4 Ways Hospitals Should Prepare for the Price Transparency Rule Next Year”
AccuReg CEO Paul Shorrosh warns that it might be “impossible” for hospitals to meet price transparency requirements if they rely solely on their internal IT departments to implement the complex technology needed to comply by the impending January 2021 deadline.
In the article, Shorrosh offers recommendations for hospitals feeling the pressure meet compliance requirements and avoid hefty monetary fines of $300 per day. Aside from large health systems, he said, now is the time for hospitals to shop for an RCM vendor that can deliver the machine-readable file and cost estimator required under the ruling.
Shorrosh also suggests hospital executives go beyond compliance to improve the consumer financial experience by investing in public-facing estimation tools that reveal the upfront costs of care. Not only will this win more patients, he said, it will improve efficiencies and reduce costs to collect on the back end.
Read the article on Healthleaders.