LVMC to Comply With New Federal Pricing Regulations
Starting Jan. 1, 2019, Lompoc Valley Medical Center (LVMC) will comply with a new federal regulation requiring hospitals to make their standard prices publically available on the Internet.
The regulation from the Centers for Medicare and Medicaid Services is meant to provide patients more information to inform their healthcare decisions and to understand their potential financial liability for services they obtain at the hospital. The regulation also enables consumers to compare charges for similar services at different hospitals.
Patients should understand, however, that the prices posted are “gross charges” and may not reflect the patient’s total financial responsibility. The charges paid by patients are based on a number of factors, including health insurance coverage negotiations.
LVMC advises patients to check with their healthcare insurer or the hospital billing department for more information.