Hospitals now required to list pricing for services
Being in the hospital can be overwhelming in itself, especially thinking about pricing. As of January 1, the Centers for Medicare and Medicaid Services are requiring hospitals to be more transparent about what that hospital stay can cost you.
"At Regional Health for our hospitals it's a 24,000 line item list of hospital services, that are listed by price," says Ted Svyerson the vice president of revenue cycle at Regional Health.
Regional Health staff hear from patients all the time, they're surprised by the cost of their bill. At at the end of the day once the procedure is completed, you're stuck with that price. Officials are hoping this is a first step in creating a more trusting and transparent relationship.
"People can truly understand and anticipate their cost and there's less surprise when they receive their bills," says Svyerson.
The price you see online isn't necessarily what you'll be paying. Depending on you insurance and the individualized procedure, it could be less.
"This would be equivalent more so of a list price, if you would or undiscounted price that we're posting. It's going to vary patient by patient, case by case, circumstance by circumstance, the type of treatment that's been received and or provided," says Svyerson.
if you plan on choosing Regional Health for your care, they have patient financial advocates to help understand the cost of your bill and options they can do with your insurance. You can call 755-7500 to talk with these people personally.