Parathon now offers a Price Transparency Solution.
In accordance with Section 2718(e) of the Public Health Service Act, Price Transparency is now required for Health systems and became effective January 1, 2021. Many are still failing compliance checks and require assistance with this. Parathon’s Price Transparency solution meets all requirements under the CMS Price Transparency Final Rule. This regulation has two main components of public disclosure of hospital charges.
- All standard charges for all items and services need to be presented in a comprehensive machine-readable format.
- A consumer-friendly display of shoppable services.
Parathon’s innovative consumer-facing Patient Responsibility Estimator provides consumers with real-time and relevant information regarding potential out-of-pocket costs for shoppable services in full compliance with the Price Transparency Rules.