Trump Administration Announces Historic Price Transparency Requirements
Posted on Monday, November 18, 2019 12:50 PM
Last week, the Department of Health and Human Services (HHS) announced that CMS is issuing two new rules to increase price transparency to empower patients and increase competition among all hospitals, group health plans and health insurance issuers in the individual and group markets. The two rules are: Calendar Year 2020 Outpatient Prospective Payment System (OPPS) & Ambulatory Surgical Center (ASC) Price Transparency Requirements for Hospitals to Make Standard Charges Public Final Rule and the second is the Transparency in Coverage Proposed Rule.
“President Trump has promised American patients ‘A+’ healthcare transparency, but right now our system probably deserves an F on transparency. President Trump is going to change that, with what will be revolutionary changes for our healthcare system,” said HHS Secretary Alex Azar. “Today’s transparency announcement may be a more significant change to American healthcare markets than any other single thing we’ve done, by shining light on the costs of our shadowy system and finally putting the American patient in control.”
Click here for the full press release.
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