POTUS signed a new executive order on June 24th, 2019 titled the “Executive Order on Improving Price and Quality Transparency in American Healthcare to Put Patients First.” The order calls for healthcare service prices and negotiated rates to be made more transparent, easy-to-read, and consumer-friendly to allow patients to make more educated decisions about their healthcare. Its another step towards achieving the administration’s healthcare goals as laid out in the report, “Reforming America’s Healthcare System Through Choice and Competition.”
- The Health and Human Services Agency (HHS) will work with hospitals to draft a new rule requiring hospitals to release pricing to patients and insurers in a “transparent, easy-to-read, and consumer-friendly” format.
- Health insurers and providers must provide out-of-pocket costs to consumers prior to receiving health care services.
- “Access to de-identified claims data from taxpayer-funded healthcare programs and group health plans” will be increased for researchers, entrepreneurs, and others. The increased data availability is intended to drive the development of “tools that empower patients to be better informed as they make decisions related to healthcare goods and services” and to speed up the search for healthcare inefficiencies and opportunities for improvement.
- The ability for patients to use an HSA alongside an eligible high-deductible plan is to be expanded.
Read the full executive order here.
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