About 91% of hospitals posted a machine-readable file containing rate information by the end of 2023, according to a new analysis by Turquoise Health.
That’s 5,763 hospitals, 562 more than a year ago and nearly triple the number in first-quarter 2021, the company said. Turquoise also found that the quality of the data has improved over time, with over 50% of hospitals now posting files that the company deems complete. Turquoise also assessed the insurer machine-readable files and found a large increase of insurers posting files since 2022.
Under the Centers for Medicare & Medicaid Services’ price transparency rules, hospitals have been required since January 2021 to publicly post a machine-readable file containing a wide range of rate information; while commercial health plans have been required since July 2022 to release machine-readable files of their in-network negotiated rates and out-of-network allowed amounts.
