Disagreement over rule that would increase transparency in healthcare costs

Bennett Purser and Amy Scott Nov 15, 2019
HTML EMBED:
COPY
Photo by Mario Tama/Getty Images

Disagreement over rule that would increase transparency in healthcare costs

Bennett Purser and Amy Scott Nov 15, 2019
Photo by Mario Tama/Getty Images
HTML EMBED:
COPY

A rule proposed by the Trump administration would require hospitals to reveal the the standard price for medical services, supplies and prescription drugs.

Hospitals typically negotiate these costs with insurance companies in private, leaving patients to find out the price after receiving the care. The hope is that more transparency on these negotiations might lower healthcare costs for consumers, giving them ability to choose alternative hospitals and locations.

According to Reed Abelson, who covers the business of healthcare for the New York Times, industry leaders think that if hospitals see competitors charging more the move could actually raise prices for services.

Abelson spoke with “Marketplace” host Amy Scott about how the new rule could work for patients, and what might get it stalled in court.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.