Disagreement over rule that would increase transparency in healthcare costs
Disagreement over rule that would increase transparency in healthcare costs
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.
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