President Donald Trump has signed an executive order to make healthcare costs more transparent for Americans, directing regulators to force healthcare facilities and insurance companies to publicly disclose the prices of different services.
The order “directs the Departments of the Treasury, Labor, and Health and Human Services to rapidly implement and enforce the Trump healthcare price transparency regulations,” according to a fact sheet from the White House. The regulations to force transparency, the release stated, were “slow walked by the prior administration.”
“The departments will ensure hospitals and insurers disclose actual prices, not estimates, and take action to make prices comparable across hospitals and insurers, including prescription drug prices,” the release added.
The order stated that the “regulations require hospitals to maintain a consumer-friendly display of pricing information for up to 300 shoppable services and a machine-readable file with negotiated rates for every single service the hospital provides.”
Healthcare costs typically remain unknown to consumers until after services have been provided. This is a result of negotiations between doctors, insurance companies, and pharmaceutical companies to determine the price tag on any given healthcare service. […]
— Read More: thepostmillennial.com
