The new federal price transparency law took effect January 1, 2021, yet many hospitals – still focused on financial recovery in COVID-19’s wake – were not prepared to become fully compliant by this date. In this Chief Healthcare Executive video interview, Ogi Kwon – Manager, Advisory & Assurance in R1’s regulatory division – discusses hospital compliance to date and whether consumers are using the information they gather in meaningful ways.
In addition, he addresses how patients' expectations about their healthcare experience are evolving and and how this law could impact the “consumerization” of healthcare.
Author Bio: Ogi Kwon is the Manager, Advisory & Assurance – Regulatory in R1 RCM's regulatory division.
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