This is news I didn't even hear about but it is good news. This means they will have to offer better prices or risk losing patients.
Better care, cheaper care, and more transparency about costs. This will help millions.
" Starting in January 2021, hospitals will be required to disclose their pricing negotiations to better inform consumers.
The new rule, which mandates that health care systems and insurance companies reveal costs for tests, procedures, and treatments, follows a decision by the U.S. Court of Appeals for the District of Columbia Circuit to uphold President Donald Trump’s executive order calling for health care price transparency.
“The courts have spoken in favor of pro-consumer and pro-competition in health care, and it’s going to be a huge shift because we have not been able to know prices,” Fisher said, noting it is a largely nonpartisan issue. “We’ve been blind, we’ve been blindfolded, and we’ve been blindsided by bills that don’t match our experiences and are many times overcharged.”
“This actually shifts the power between the hospitals and the insurance companies, and all the middle players that have been capitalizing on our American patients’ misfortune,” she continued. “Now for the first time, patients will be in charge of their health decisions and will be able to shop.”
The system revamp designed to create accountability will officially be enforced beginning Jan. 1, 2021, for hospitals and in 2022 for insurers. "
source
Better care, cheaper care, and more transparency about costs. This will help millions.
" Starting in January 2021, hospitals will be required to disclose their pricing negotiations to better inform consumers.
The new rule, which mandates that health care systems and insurance companies reveal costs for tests, procedures, and treatments, follows a decision by the U.S. Court of Appeals for the District of Columbia Circuit to uphold President Donald Trump’s executive order calling for health care price transparency.
“The courts have spoken in favor of pro-consumer and pro-competition in health care, and it’s going to be a huge shift because we have not been able to know prices,” Fisher said, noting it is a largely nonpartisan issue. “We’ve been blind, we’ve been blindfolded, and we’ve been blindsided by bills that don’t match our experiences and are many times overcharged.”
“This actually shifts the power between the hospitals and the insurance companies, and all the middle players that have been capitalizing on our American patients’ misfortune,” she continued. “Now for the first time, patients will be in charge of their health decisions and will be able to shop.”
The system revamp designed to create accountability will officially be enforced beginning Jan. 1, 2021, for hospitals and in 2022 for insurers. "
source
