HANYS Solutions partners with IBM Watson Health to help members comply with Jan.1 price transparency
In November 2019, CMS finalized a rule that requires hospitals to make privately negotiated, payer-specific price information for all items and services public in multiple formats by Jan. 1, 2021.
This means hospitals must post price information for all items and services available in a machine readable format and launch a consumer-friendly website with price information on 300 shoppable services. The IBM Watson Health solution addresses both the machine readable and shoppable services requirements.
HANYS Solutions and IBM Watson Health’s partnership will assist HANYS members in meeting the Jan. 1 price transparency regulations. IBM Price Transparency provider solution is built on the IBM Hybrid Cloud and provides a cost-effective solution for HANYS’ members to meet the CMS Price Transparency Final Rule. IBM will work with providers in meeting the requirements of the Final Rule with minimum time required from their own internal resources. IBM Watson Health handles the administration and maintenance of the IBM Price Transparency provider solution, which includes:
- production of the machine readable file;
- production and access to the consumer-friendly format via an API connection; and
- training and implementation support.
Learn more about the IBM Price Transparency provider solution by viewing the recent webinar or contact Brian Marcolini, Watson Health solution specialist, value based care, at firstname.lastname@example.org or 315.408.1768.