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Health Care Price Transparency: Reality or Mirage? | Managed Healthcare Executive

On June 24, 2019, President Trump signed the Executive Order on Improving Price and Quality Transparency in American Healthcare to Put Patients First. The stated goal of the Order is to lower health care costs by providing patients with more cost information, in particular for “shoppable” services (i.e., services provided by numerous providers that patients can research and compare pricing).

The Order suggests that by increasing price transparency for “shoppable” procedures, the price of healthcare will go down as the market becomes more competitive. The Order is expressly directed at “powerful special interest groups, such as large hospital systems and insurance companies,” who are the beneficiaries of “opaque pricing structures” that harm consumers.

Through increased pricing transparency the Order also aims to curtail “surprise billing,” which it describes as unexpected, inflated bills from out-of-network providers. The Order states that “[m]aking meaningful price and quality information more broadly available to more Americans will protect patients and increase competition, innovation, and value in the healthcare system.”

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Health Care Price Transparency: Reality or Mirage? | Managed Healthcare Executive.

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