President Trump is planning to issue an executive order that will “compel the disclosure” of healthcare prices, according to The Wall Street Journal, which cited people familiar with the matter.
Insurers, doctors, hospitals and other industry stakeholders could be required to provide information about their negotiated and discounted costs of care. The move is in line with the Trump administration’s efforts to lower healthcare costs by promoting transparency. However, it is unclear what enforcement mechanism could be behind the future requirements.
Industry groups have spoken out against transparency rules, arguing they will actually lead to higher costs. A group of doctors supports the administration’s move. The executive order will likely come just days after Trump announced during an interview with ABC that he will introduce a new healthcare plan in the next few 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."