House’s New Healthcare Reform Drags Medical Pricing to Sunlight – Pacific Research Institute

House’s New Healthcare Reform Drags Medical Pricing to Sunlight

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One of the most glaring deficiencies in America’s healthcare system is its lack of price transparency. For too long, the bottom-line price of everything from prescription drugs to MRI scans and in-patient medical procedures has remained a mystery to most consumers.

This is no accident. By obscuring this information, providers, insurers, and pharmacy benefit managers have insulated themselves from price competition — subverting the kinds of market forces that keep quality high and costs down in other markets.

But that might be about to change. In December, the House of Representatives passed the bipartisan Lower Costs, More Transparency Act by a 320-71 margin. The measure aims to make the prices of a range of treatments and healthcare services far more accessible to patients.

Click to read the full article in Newsmax.

Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.

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