With 2022 swiftly approaching, the No Surprises Act will soon take effect, followed shortly by the Transparency in Coverage Rule. There are two weeks until the deadline for payers to comply with the No Surprises Act. Continue reading to learn what industry experts have to say about the regulations.
Understanding the Final Rule: Guidance for Payers as Deadline for No Surprises Act Looms
On Financial Technology Today’s podcast, Dennis Charland, Senior Vice President of Sales at Sapphire Digital, shared updates on the Transparency in Coverage Rule. With deadlines quickly approaching in the new year, new regulations, while broad and far-reaching, require increased transparency and will impact overall healthcare costs next year.
Listen to the podcast here.
Price Transparency: Compliance Mandate or Strategic Investment?
Price transparency is the future for health plans. Starting in January 2022, the No Surprises Act takes effect, then in June 2022, the first Transparency in Coverage Rule compliance deadline takes effect. Both legislations require greater price transparency solutions. “From a financial and company reputation standpoint, these price transparency rules are a compliance imperative. But more than that, these regulations present a unique opportunity for payer organizations to gain a competitive edge by leveraging a substantial market shift to guide strategic investments and improvements,” commented David Vivero, is co-founder and CEO of Amino.
Read the full story here.
Doctors, Air Ambulance Operators Challenge Interpretation of No Surprises Act
Parts of two of the interim final rules are now being challenged in court in lawsuits filed by the Texas Medical Association (TMA) and a Texas-based emergency room physician, and the Association of Air Medical Services (AAMS). The cases are predominately challenging key elements of the new federal independent dispute resolution (IDR) process. While some providers are unhappy with the new IDR process, it will help motivate payers and providers to resolve payment disputes in a consistent and efficient manner. The IDR process will establish more predictable outcomes. If the TMA and AAMA lawsuits are successful, it would lead to higher premiums for consumers, employers, and taxpayers.
Read the full story here.
