Price transparency in hospitals and providing a penalty. (FE)
Impact
This legislation aims to enhance price transparency in healthcare, enabling consumers to make more informed decisions about their healthcare purchases. By requiring that this information be readily available and updated regularly, SB328 seeks to mitigate confusion surrounding hospital costs and empower patients in their healthcare choices. Additionally, hospitals are compelled to maintain a public list of standard charges that must be easily accessible to the public and should not require personal information or account creation to view.
Summary
Senate Bill 328 introduces new requirements for hospitals in Wisconsin regarding the transparency of pricing for services provided. The bill mandates that each hospital must publicly disclose a list of standard charges for items and services in a machine-readable format, along with a consumer-friendly list specifically for shoppable services. These shoppable services are defined as those that consumers can schedule in advance, and the bill requires hospitals to provide detailed pricing information, including gross charges and negotiated prices with third-party payors.
Contention
There may be potential contention surrounding the enforcement mechanisms of the bill, as it allows for the Department of Health Services to impose penalties on hospitals that fail to comply with transparency requirements. These penalties can escalate significantly based on the size of the hospital, adding a financial pressure that some healthcare providers may perceive as punitive rather than supportive. It remains to be seen how hospitals will adjust to these regulations and whether there will be pushback regarding the regulatory burdens imposed by the state.
Relating to the required disclosure of prices for certain items and services provided by certain medical facilities; providing administrative penalties.