New Trump rules would require hospitals and insurers to disclose upfront the prices of common tests and procedures. The healthcare industry is already pushing back.
New rules the Trump administration issued Friday would require insurers and hospitals to disclose upfront the actual prices for common tests and procedures to promote competition and push down costs.
Speaking at a White House event, President Trump skipped over potential difficulties, at times making it sound like openness in healthcare pricing was a done deal.“After many years, we will have transparency,” Trump said. “Within about 12 months I think it will be fully implemented.” He predicted “a tremendous impact on prices.”
“American patients have been at the mercy of a shadowy system with little access to the information they need to make decisions about their own care,” Health and Human Services Secretary Alex Azar said, pointing out that many hospital procedures are scheduled in advance, and that gives patients a chance to shop around.
Insurers also contend the plan could backfire, prompting relatively low-cost providers to try to raise their prices when they see that others are getting more.
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