President Trump is scheduled to sign an executive order June 24 that will enable HHS to require hospitals and insurers to disclose negotiated rates for healthcare services and give patients their out-of-pocket costs before their procedures, according to CNBC.
The order was rumored last week when The Wall Street Journal reported a forthcoming order would push transparency over healthcare prices.
The order is in line with the administration’s push to increase transparency in the healthcare sector, after it required hospitals to begin publishing list prices and drugmakers to publish drug prices in television advertisements.
Following news of the executive order, healthcare stocks dropped among major U.S. insurance companies and hospitals, including Anthem, Cigna, Humana and Centene, according to CNBC. Trump has also recently touted a new healthcare plan he will announce in the coming months.
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Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."