POLITICO: Trump aims at health cost transparency with executive order

“President Donald Trump on Monday signed an executive order aimed at helping patients understand their medical costs up front that could force providers and insurers to open their books on secretive price negotiations.”

“The idea is to give patients more information earlier and is part of broader efforts to make health care more transparent, although critics have warned certain measures could have the opposite effect…”

“The order calls for HHS to issue a rule requiring hospitals to disclose prices in an easy-to-read format reflecting what patients and insurers actually pay. The department will also require providers and insurers to disclose information about patients’ out-of-pocket costs before they receive care.”

“The order also calls for a roadmap for consolidating quality metrics across all federal health care programs, expanding access to health care claims data de-identified to preserve privacy and directs the Treasury Department to expand the availability of health savings accounts to pay for more health care services.”

“The administration had hinted it would require hospitals and insurers to disclose their negotiated rates — a prospect that triggered fierce pushback from the both industries. But how specific that information will be is up in the air…” Read the full article here. 

Source: Trump aims at health cost transparency with executive order – By Rachel Roubein, June 24, 2019. POLITICO.

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