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Beyond the Bottom Line – Episode 3

Beyond the Bottom Line – Episode 3

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 Price Transparency Enforcement Ramps Up: What Hospitals Need to Know With Host Kevin Chmura, CEO of Panacea Healthcare Solutions and Guest Govi Goyal, President, Financial Services In this episode of Beyond the Bottom Line, host Kevin Chmura and guest Govi Goyal dive into the latest developments in hospital price transparency following President Trump’s February 25th executive order. The order directed federal agencies to rapidly ramp up enforcement of existing transparency regulations and explore new ways to ensure compliance—with a clear 90-day deadline. Kevin and Govi break down what this means for healthcare organizations, including the surge in CMS enforcement activity, the potential for updated guidance on standardization and data reporting, and how hospitals can prepare. Drawing on recent client experiences and industry trends, the conversation offers timely insights for revenue cycle, compliance, and pricing leaders navigating the shifting transparency landscape. Episode transcript available below. Kevin: Hi, and welcome to the episode Panacea’s podcast Beyond the Bottom Line. Let’s talk healthcare, finance, revenue cycle and compliance. I’m your host, Kevin Chmura, CEO of Panacea Healthcare Solutions. Today, we’re going to be doing a follow-up to a podcast we released in February highlighting kind of the rapid reaction to an executive order signed by President Trump, doubling down on price transparency enforcement. It’s been a little bit of time since then, and we thought it would be a good time to bring back our guest from that episode, Govi Goyal, who is President of our Financial Services division and leads our price transparency practices and really a national nationally recognized expert on all topics price transparency. To kind of give us an update on how that’s translating out into the market and what we’re seeing. So first, let me welcome Govi. Thanks for coming back. Govi: Thanks Kevin. Good morning. Kevin: So, maybe just set it up for the listeners, if you didn’t get a chance to listen to our first podcast, you can find that on our website. Also, you can find those on Apple Podcasts as well. If you want to go back and subscribe to Beyond the Bottom Line. But I’ll just I’ll do a quick rundown of why we did that podcast and then maybe stick to what we’re seeing. So in that we talked about ,that on February 25th, President Trump signed a new executive order. And what that did was it specifically instructed the Secretaries of Treasury, Labor and Health and Human Services to rapidly implement actions to enforce the price transparency regulations from the original executive order, EO 13877, and this was an important piece, within 90 days. So he put the word rapidly in there. But then he also defined what rapidly was, which is within 90 days. I want to see enforcement of the existing regulations and also instructed them to, if you can find new ways to enforce regulations. It’s been about 75 days since then, and we are starting to see some of that executive order filter out into the marketplace. And so, you know, just in our internal discussions, we’ve talked a little bit about what we’re seeing. So Govi, maybe I won’t oversell it. Maybe you could just tell us what are you hearing out in the market? What are we seeing? What are what our customers and prospects calling us, telling us, like, what? What’s out there right now? Govi: Yeah, slowly. And I think the executive order is a good place to start because that’s what’s really triggering a lot of the activity that we’re seeing. And you hit the nail on the head. It’s really a two-pronged approach. There’s the increased enforcement, which we’re definitely seeing and we’re going to jump into. But then there’s a second part, which is around actually improving the price transparency requirements. And so it’ll be interesting to see. We’ve got, as you mentioned, just about 16 days left here before the 90 days is up. As part of the executive order, there’s language in there that states within 90 days we should see either updated guidance or proposed regulatory action on two different things. One is around ensuring pricing information is more standardized and is easily comparable across hospital health plans, which does a little, I’m really interested is hear and see what that guidance might be, because back in 2024, July of 2024, it was required for all hospitals to comply with a standardized CMS template. And the primary reason for that is to get to more apples-to-apples comparisons so you wouldn’t accidentally compare like a case rate to a per diem or a PPO to HMO. So we’ll see what other, you know, further guidance or regulatory action is going to be coming up for hospitals or even health plans to comply with. The other piece is more around seeing any guidance or regulatory action in terms of reporting a complete, accurate and meaningful data. And that’s more around ...
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