Price & Quality Transparency
Health care prices have increased rapidly in recent years and the current trend not sustainable. Colorado Hospital Association and its members hold a deep commitment to furthering transparency and affordability in health care. Patients should know before, during and after their health care visit what their cost and financial responsibility will be.
CHA has adopted the Healthcare Financial Management Association’s (HFMA) guidelines for price transparency, which state that transparency should be meaningful, consumer-oriented, easy to understand and paired with other information to define the value of services and not just the price. This is because, while price is undeniably important, quality and outcomes matter just as much.
It is important to note that transparency is not the end-all, be-all solution to this issue but is rather a means to an end: affordable, accessible, high-quality health care for all.
“CHA and its member hospitals and health systems remain committed to promoting meaningful transparency in health care.”Steven J. Summer
HFMA Guidelines for Price Transparency
Price transparency should empower patients and other
care purchasers to make meaningful price comparisons
prior to receiving care.
Any form of price transparency should be easy to use and
easy to communicate to stakeholders.
Price transparency information should be paired with
other information that defines the value of services for the
Price transparency should ultimately provide patients with
the information they need to understand the total price of
their care and what is included in that price.
Price transparency will require the commitment and
active participation of all stakeholders.