A new hospital price transparency tool has been launched in Colorado to help consumers identify out-of-pocket costs before undergoing procedures. Governor Jared Polis has promoted the tool as a way to save Coloradans money on healthcare. The tool, created by PatientRightsAdvocate.org, allows consumers to search for the cost of common procedures by hospital, providing estimated costs based on insurance providers.
According to Cynthia Fisher, the founder of Patient Rights Advocate, healthcare providers in Colorado are charging consumers up to 31 times higher prices depending on the provider. The Public Health Service Act requires hospitals to establish and update a list of standard charges for items and services, with penalties enforced by the Centers for Medicare & Medicaid Services. Patient advocates argue that the federal transparency rule and price estimator tools do not provide patients with a true upfront cost, as they only require hospitals to publish a limited number of services.
A new Colorado law prohibits hospitals from sending medical debt to collections if they are not in compliance with federal reporting requirements, giving more power to patients. While Colorado hospitals have invested significant resources to comply with price transparency, some patient advocacy groups believe there is still room for improvement. Despite this, only a small number of hospitals in the nation have been fined for noncompliance with the transparency rule. Visit PatientRightsAdvocate.org for more information on the hospital transparency tool and how to use it.
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