In October 2020, the CMS Transparency in Coverage Final Rule was released. In a year of disruption, particularly for organizations within global health, the final rule sets forth requirements to disclose cost-sharing information upon request to a participant, beneficiary or enrolee, promoting openness throughout the industry in this new post-pandemic landscape.
Business leaders globally know that within group health plans, this mandate is incredibly important, altering the landscape of the consumer experience over the next 3-4 years. However, despite the challenges in providing a consumer-friendly format that encourages shopping and member engagement, leveraging price transparency can also be a huge opportunity to drive successful business outcomes and capitalize on regulation.
So, how can regulations be seen as an opportunity to go beyond the mandate and improve member engagement and satisfaction? How can we measure relevant KPIs associated to price transparency? And how can we implement adjacent systems and activities that add value to members and the overall business?
Join IBM Watson Health and a select group of senior thought-leaders to share best practice in how to respond to the new mandate, to discuss plans in investing in technology to achieve compliance, and to explore how to leverage the regulations to improve member engagement.