Trump is drafting order to force healthcare cost disclosures, Wall Street Journal reports

President Donald Trump's administration is preparing an executive order requiring the disclosure of healthcare prices, according to The Wall Street Journal.

The executive order is expected to be released as early as next week.

It could include a mandate that federal agencies compel healthcare stakeholders to reveal cost data, WSJ sources said. Sources said federal officials are also considering using the U.S. Justice Department and other agencies to address hospital and insurance plan monopolies.  

The administration declined to comment on the matter to the newspaper.

To accomplish its price transparency goals, the White House is considering using the 21st Century Cures Act, the ACA, Health Insurance Portability and Accountability Act and Employee Retirement Income Security Act, sources told the WSJ.

Earlier this month, the WSJ reported that the White House is looking for ways to require that physicians and hospitals give patients their total care costs of up front, and require that insurers in the private-employer market publicize the rates they negotiate with providers.

Supporters say requiring price and rate disclosure could lead to lower healthcare costs, but critics say it is unclear how many consumers would use price information to find lower-cost treatment, according to the publication.

Any cost disclosure mandates would likely face industry opposition and legal challenges, the WSJ said.

Access the full report here.

 

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