Monument Health says price transparency a top objective

Monument Health says price transparency a priority
Monument Health says price transparency a priority(Nick Nelson)
Published: Jul. 23, 2021 at 6:35 PM MDT
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RAPID CITY, S.D. (KEVN) - The nation’s health care system is still a hotly contested political issue, especially as we come out of the COVID-19 pandemic.

So what steps are healthcare providers taking to ensure their patients know exactly what they’re paying?

President Joe Biden recently signed an executive order reinforcing that hospitals be transparent with their service prices. According to the nonprofit Patient Rights Advocate, only about 6% of hospitals in the United States are compliant with these new rules.

Seven South Dakota hospitals, including Monument Health, are listed as being non-compliant.

Ted Syverson, Vice-President of Revenue Cycle for Monument Health, said that Monument remains committed to price transparency, and is prepared to comply with new federal requirements.

“Price transparency is an exercise in consumerism, and we are vastly devoted to that transparency and consumerism to the people for our communities,” Syverson said.

Monument has a service on their website, where you can look at prices, and calculate your approximate out-of-pocket costs.

Syverson said that this is a helpful tool, but customers still may need help navigating it.

“It’s very difficult for a consumer to go in and deduce what exactly they’re going to need when they’re picking from a list of close to 30,000-line items,” Syverson said. “We like to have navigators available to help patients navigate what’s applicable for their service, and what is not.”

Monument also has a financial advocate line listed on their website to reach out to for help.

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