Price was born in North Plainfield, New Jersey and graduated from North Plainfield High School in 1984. She is a graduate of Rutgers University.
Price made her television debut appearing in a 1991 episode of the NBC drama Law & Order. She later had three more guest roles in Law & Order, playing different characters.
From 1995 to 1996, she was a regular cast member in the short-lived CBS sitcom Bless This House, starring Andrew Dice Clay and Cathy Moriarty. In film, she had supporting roles in Jersey Girl (1992) starring Jami Gertz and Dylan McDermott , Kiss Me, Guido (1997), Pushing Tin (1999), Woody Allen"s Sweet and Lowdown (1999), Random Hearts (1999), and Chasing Sleep (2000) opposite Jeff Daniels.
In 1999, Price was cast as Police Officer (and later, Detective) Faith Yokas in the NBC crime drama series Third Watch, which she starred in from 1999 to 2005. Her husband was a recurring guest star on Third Watch as an FDNY firefighter, and she described her experiences as a firefighter's wife during the show's special 9/11 episode, entitled "In Their Own Words." She also appeared in two episodes of Sex and the City as Carrie Bradshaw's friend Susan Sharon, in 1999 and 2002. After Third Watch, Price starred in NBC's short-lived 2007 reboot of the 1970s series Bionic Woman, playing Ruth Treadwell.
Price is married to New York City Fire Department firefighter Derek Kelly. Their son Jake was born in November 2003.
Price has appeared in a number of television dramas playing guest starring roles, including Studio 60 on the Sunset Strip, Without a Trace as agent Samantha Spade's sister, ER, The Mentalist, Private Practice, Nip/Tuck, Body of Proof, Person of Interest, Shameless, Elementary, The Good Wife, and Law & Order: Special Victims Unit. From 2014 to 2015, Price had a recurring role in the Cinemax drama series The Knick, as Effie Barrow. In 2015, she co-starred in the short-lived Showtime comedy-drama Happyish. In film, Price played Uma Thurman's mother in The Life Before Her Eyes (2007) as well as co-starred in What Goes Up (2009), How Do You Know (2010), The Good Doctor (2011), and Not Fade Away (2012). In 2017, she appeared in the FX drama Feud as Robert Aldrich’s wife Harriet Foster. In 2017, she played Eric O'Bannon (Jamie McShane)'s Criminal defense attorney in the Netflix Original drama series, Bloodline, season 3.
