Trump order on healthcare price transparency coming next week, Wall Street Journal says

Kelly Gooch - Print  | 

President Donald Trump plans to issue an executive order on healthcare price transparency June 24, people familiar with the matter told The Wall Street Journal.

The president will direct governmental agencies to set rules requiring insurers, physicians and hospitals to provide information about discounted rates they negotiate for care, the sources told the newspaper.

The Journal first reported on the executive order in May.

Insurers, hospitals and other industry groups have reportedly come out against the order, saying costs could increase if businesses know the discounts their competitors receive. According to the Journal, the groups also say negotiated prices will not provide patients with the information they seek — the amount they will have to pay for the care out-of-pocket.

But various physicians have expressed support for the executive order and disclosure of prices.

The Journal's sources said it was unclear what the order will look like amid the industry pushback.

The Trump administration believes it can use tools such as the 21st Century Cures Act and the ACA to reach its price disclosure goals, the newspaper reported. Sources told the newspaper the Health Insurance Portability and Accountability Act and Employee Retirement Income Security Act also could be used to force price disclosure among insurers.

Read the full report here.

 

More articles on healthcare finance: 

How the Senate proposal to reduce healthcare costs would address transparency
Senate surprise-billing proposal features payment benchmark
55% of Texans report difficulty affording healthcare, poll finds

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