The Biden administration is cracking down on hospitals that keep their prices secret.
Under a policy announced last week, failing to abide by Trump-era hospital price transparency rules will no longer prompt a warning letter from the Centers for Medicare and Medicaid Services. Instead, hospitals will have 45 days to submit a Corrective Action Plan for meeting these requirements — or face a fine.
It seems that not even Democrats can quarrel with former President Trump’s price-transparency reforms — nor should they. For healthcare markets to function properly, patients and payers must be able to shop around for the highest-value care. That’s impossible without good information on what hospitals actually charge.
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.
Time for Hospitals to Come Clean About Pricing
Sally C. Pipes
The Biden administration is cracking down on hospitals that keep their prices secret.
Under a policy announced last week, failing to abide by Trump-era hospital price transparency rules will no longer prompt a warning letter from the Centers for Medicare and Medicaid Services. Instead, hospitals will have 45 days to submit a Corrective Action Plan for meeting these requirements — or face a fine.
It seems that not even Democrats can quarrel with former President Trump’s price-transparency reforms — nor should they. For healthcare markets to function properly, patients and payers must be able to shop around for the highest-value care. That’s impossible without good information on what hospitals actually charge.
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.