HOSPITAL PRICE TRANSPARENCY ACT

HB 263, the Hospital Price Transparency Act, requires all New Mexico hospitals to publicly post detailed pricing information online. Hospitals must provide a machine-readable digital file showing standard charges (including gross rates, average negotiated rates with insurers, and cash prices) for all services, plus a consumer-friendly list of at least 300 "shoppable" services (like MRIs or lab tests), including the 70 services mandated by federal Medicare. This directly affects hospitals by mandating transparency on costs for both insured and self-pay patients, with penalties for non-compliance including restrictions on debt collection actions during violations. The bill aims to give consumers clear, accessible pricing data to make informed healthcare decisions.