Healthcare pricing is complicated and confusing, which may explain why it leads to so many misunderstandings. Do you need to charge all patients the same price? (No!) Are prompt pay discounts legal? (It's complicated.) Can you offer discounts to out-of-network patients? (It's really complicated!) Can you charge interest on a patient balance? (Yes!) By not understanding the issues with setting fees, your hospital or clinic may risk accusations of fraud, associated fines and in rare cases a criminal investigation. But the more likely – and very real – risk is to revenue from payers contending that they don't have to pay your billed charges.
Compounding the challenges, a new hospital price transparency rule is set to take effect January 1, 2021.
During this RACmonitor webcast, David Glaser, healthcare attorney and star of Monitor Mondays "Risky Business" segment, will answer important healthcare pricing questions. He'll also provide an overview of the price transparency rule that will apply to hospitals on January 1, 2021. Ultimately, you'll gain a better understanding of fee setting and how to mitigate your risks.
Why This is Relevant:
Not understanding healthcare pricing puts your hospital or clinic at risk for fines, as well as the potential for lost revenue stemming from insurers or patients believing they're entitled to the same discount given to someone else. For hospitals, the risks will be magnified under a new pricing transparency rule, which goes into effect January 1, 2021.
- Understand the issues created by offering discounts to some patients
- Recognize issues involved with treating out-of-network patients as in-network patients
- Understand some basic antitrust issues
- Learn why you don't HAVE to charge all patients the same price
- Learn basics of the hospital pricing transparency rule
Who Should Attend:
All staff who are involved with setting fees at their hospitals or clinics, including C-suite executives.
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