The educational webinar will review what actions hospitals and health systems should take to ensure compliance and avoid substantial penalties in 2022.
ST. PAUL, MN, USA, August 26, 2021 /EINPresswire.com/ — With the Centers for Medicare & Medicaid Services (CMS) monitoring hospital providers’ compliance price transparency regulations, Panacea Healthcare Solutions, Inc., the leading experts in hospital price transparency, will host a complimentary one-hour webinar on Thursday, September 2, and 1 p.m. EDT to help providers navigate the requirements.
Panacea executives Frederick Stodolak, CEO, and Govind Goyal, Executive Vice President of Financial Services and Revenue Integrity, will co-present “The Stakes Are High: Why You Should Pay Attention to Price Transparency.”
“Knowing that many hospitals are still struggling to comply or are receiving letters from CMS citing non-compliance, we want to share our lessons learned while successfully implementing fully compliant machine-readable files and consumer displays/patient estimation systems for many large and small health systems nationwide,” Goyal said.
The presentation will benefit hospital providers regardless of what degree of compliance with the price transparency rules has been achieved to date. The timing is particularly relevant because in response to high rates of noncompliance from hospitals, CMS recently issued a proposed rule to increase civil monetary penalties more than eighteenfold – from a nominal $300 per day up to $5,500 per day in 2022.
The webinar will provide several surprising statistics on nationwide compliance and consumer-use rates of patient estimation systems and discuss how to leverage price transparency requirements to unlock hidden opportunities for the provider.
To register the free one-hour webinar, click here
As a benefit to attendees, Panacea will provide a free one-hour consultation for those providers just beginning the process, including in-depth education on the requirements and recommendations for compliance based on their own situation. For those providers that have developed, or are in the process of developing, the required data and consumer display internally, Panacea will provide a diagnostic review and useful feedback and suggestions at no cost.
Registration is limited to attendees from hospitals and other providers at this time.
About Panacea Healthcare Solutions, Inc., a BESLER Company:
Panacea helps healthcare organizations improve their coding, compliance, and data and revenue integrity with front-line expertise in mid-revenue-cycle management. Designed for healthcare professionals responsible for financial performance or compliance, Panacea delivers innovative auditing, compliance, chargemaster, strategic pricing, and revenue integrity consulting and software solutions as a single-vendor solution to help their clients proactively identify risks and opportunities and overcome today’s challenges, providing the clear answers needed to swiftly and cost-effectively achieve quality results. More information is available at panaceainc.com.
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