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President Donald Trump has signed an executive order to improve price transparency in healthcare costs in the US.
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The order directs federal agencies to enforce a 2019 order, forcing health insurers and hospitals to disclose actual healthcare prices.
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The goal is to standardize price information, update guidance, and ensure compliance, ultimately benefiting patients.
President Donald Trump of the United States on Tuesday signed an executive order aimed at improving price transparency on healthcare costs in the country.
According to Reuters, this move directs federal agencies to strictly enforce a 2019 order that Trump signed during his first term.
The new order requires the Departments of Treasury, Labour, Health, and Human Services to develop a framework within 90 days to implement the 2019 executive order.
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This framework is expected to force health insurers and hospitals to disclose healthcare cost details, including actual prices rather than estimates.
They will also need to update existing guidance or propose new regulations to standardize price information across the country.
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Also, federal agencies will need to update or issue enforcement policies to guarantee compliance.
Trump emphasized the importance of price transparency in healthcare, stating, “You’re not allowed to even talk about it when you’re going to a hospital or see a doctor. And this allows you to go out and talk about it. It’s been unpopular in some circles because people make less money, but it’s great for the patient.”
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