Medical Pricing Transparency
When we think of medical treatment, we rarely think of competitive bidding, but that concept is as applicable to medicine as it is to construction. Pricing transparency, anyone?
The Trump admin did something to make the price of medical treatment more competitive, by issuing new rules via an Executive Order.
Trump explains pricing transparency.
The new rule that impacts healthcare pricing transparency the most is:
Calendar Year 2020 Outpatient Prospective Payment System and Ambulatory Surgical Center Price Transparency Requirements for Hospitals to Make Standard Charges Public.
Who makes up these names?
By way of background, hospitals and healthcare providers do, in fact, publish lists of what they charge for various treatments and procedures. The problem is that they are not the same prices they charge to insurance companies. They are hugely inflated. They are difficult to obtain.