The Trump administration on Friday unveiled new rules to require increased disclosure of health care prices, in a move officials said would drive down costs by increasing competition. The Hill reports:
One regulation would require hospitals to provide a consumer-friendly online page where prices are listed for 300 common procedures like X-rays and lab tests. A second regulation would require insurers to provide an online tool where people could compare their out-of-pocket costs at different medical providers before receiving treatment.
Officials billed the announcement as a major step in President Trump’s health care agenda. The move is controversial with the health care industry, as both hospitals and insurers have objected to having to disclose the information…
President Trump said in remarks at the White House on Friday that the move is “another major victory in our mission to deliver great health care at a price you can afford.”
“I don’t know if the hospitals are going to like me very much anymore but that’s okay,” he said, later adding, “after many, many years we finally have transparency.”
Indeed, hours after the announcement, the American Hospital Association, along with other provider groups, announced it would sue to stop the rule.