Rapid assessment technology: A demonstration evaluating potential cost-benefit outcomes of U.S. hospital price transparency regulation

Abstract

BackgroundIn 2019, the Centers for Medicare and Medicaid Services (CMS) mandated U.S. hospitals to publicly display their negotiated charges for health care services provided. The 2019 mandate is the second step in a CMS’ comprehensive, long-term price transparency initiative affecting several hospital pricing aspects. To date, little is known about potential implications of the 2019 CMS mandate on healthcare sector. MethodsTo address this gap, we utilized rapid assessment technology and surveyed a nationally representative panel of health policy and management researchers (N = 216). PurposeWe asked the research panel about the likelihood of a complete hospital price transparency mandate implementation and whether it will achieve its intended goals. ResultsThe majority of panelists (68.6%) perceived that the hospital price transparency policy was not likely to be fully implemented. However, if the comprehensive price transparency policy would be enacted, respondents perceived that it would help control costs, but not by engaging consumers in price shopping behaviors. Respondents noted the significant technical challenges to producing and interpreting the health services pricing information would be a barrier to bending the healthcare cost curve. ConclusionRapid assessment technology proves useful and adds value in the healthcare sector to quickly evaluate potential policy outcomes.