Price Transparency is now a requirement for hospitals. To avoid fines, hospitals need to produce a Machine Readable File (MRF) of all payer and plans reimbursement terms. Effective July 1, 2024, hospitals are required to use the “tall” or “wide” standardized formats as published by the Centers for Medicare and Medicaid Services (CMS). CMS requires that these files be updated at a minimum annually.
IRI can construct the MRF, and if needed, a shoppable services file.
Our process starts with analyzing all contract terms. Once all terms have been documented, an IRI consultant will begin constructing the file. Once complete, IRI will collaborate with you to ensure terms were interpreted correctly. Final deliverables will be sent in a format that can be uploaded to the hospitals’ website.
IRI can construct the MRF, and if needed, a shoppable services file.
Our process starts with analyzing all contract terms. Once all terms have been documented, an IRI consultant will begin constructing the file. Once complete, IRI will collaborate with you to ensure terms were interpreted correctly. Final deliverables will be sent in a format that can be uploaded to the hospitals’ website.