Patient Advocates Laud Trump’s New Healthcare Accountability, Transparency Rule
The rules require plans to publish clearer, standardized prices and name a responsible official, with out-of-network data expanded and updates more frequent.
- On Monday, the Labor, Treasury, and Health and Human Services departments released final Transparency in Coverage rules designed to standardize healthcare pricing information and help consumers make informed decisions before receiving care.
- Following findings that previous disclosures were 'impossible to decipher' and comprised of 'gargantuan data files,' the Trump administration overhauled requirements to close loopholes and enable patients to compare costs across different facilities.
- New regulations require insurers to report in-network rates as dollar figures, eliminate 'ghost rates,' and certify data accuracy with a senior executive's name. Compliance costs nearly $400 million, though the Centers for Medicare & Medicaid Services expects almost $175 million in annual net savings.
- CMS Administrator Dr. Mehmet Oz said the initiative empowers consumers by enabling cost-comparison tools. However, Sophia Tripoli, managing director of health policy for Families USA, stressed, "There is not easily accessible pricing data at a consumer's fingertips."
- A bipartisan "Patients Deserve Price Tags Act" advanced out of the Senate Health Committee this summer and remains pending before new lawmakers are sworn in next year. Regulators also plan to finalize separate prescription drug pricing rules this spring.
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Trump admin revamps price transparency
Click in for more news from The Hill {beacon} Healthcare Healthcare The Big Story HHS revamps price transparency rules The Trump administration is revamping its transparency rules, trying to make health insurers clearly publish the prices they negotiate with doctors and hospitals. © iStock The rule finalized by the Department of Health and Human...
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Patient advocates laud Trump’s new healthcare accountability, transparency rule
(The Center Square) – The Trump administration’s final rule on “Transparency in Coverage” that intends to help fulfil the promise of healthcare affordability has been met favorably by advocacy groups as something that will bring accountability to healthcare and lower…
Trump’s new healthcare accountability and transparency rule praised by patient advocate groups
The final rule’s “added requirement of executive attestation that published prices and other information are true, accurate, and complete as of the date in the machine-readable file is a breakthrough for compliance,” Fisher said.
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Trump administration finalizes transparent healthcare pricing rules
The rules are intended to make healthcare pricing information more accurate, standardized and easy to use.
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