Making America Healthy Again by Empowering Patients with Clear, Accurate, and Actionable Healthcare Pricing Information

 On February 25, 2025, an Executive Order was issued to enhance healthcare price transparency in the United States. The objective is to empower patients with clear, accurate pricing information to make informed healthcare choices.

1. Purpose of the Order:

• The order addresses the longstanding issue of hidden healthcare prices, which has prevented patients and employers from understanding the costs of care ahead of time.

• Previous regulations under Executive Order 13877 aimed to require hospitals and health plans to publicly disclose pricing information.

2. Regulations Implemented:

• Hospitals must maintain easily understandable pricing for up to 300 services and provide a comprehensive list of negotiated rates for all services.

• Health plans must also disclose their negotiated rates and out-of-pocket expenses for consumers, including prices for prescription drugs.

• A consumer-facing tool for price information access is mandated for health plans.

3. Predicted Financial Impact:

• Research has suggested that full implementation of these regulations could lead to up to $80 billion in savings for consumers and employers by 2025.

• A report noted the possibility of a 27% reduction in healthcare costs for common services due to increased transparency.

4. Current Challenges:

• There has been a lack of enforcement at the federal level, resulting in incomplete price information being posted by facilities.

• Past efforts for price transparency have not been adequately upheld, particularly regarding prescription drug prices.

5. Future Directions:

• The aim is to assure that all patients receive meaningful price information to improve healthcare decision-making.

• Key government officials are tasked with the rapid implementation and enforcement of price transparency regulations, ensuring actual prices are disclosed, standardizing pricing information, and enhancing compliance measures.

The Executive Order is designed to reinstate and strengthen healthcare price transparency efforts to promote better decision-making among patients and reduce overall healthcare costs.

https://www.whitehouse.gov/presidential-actions/2025/02/making-america-healthy-again-by-empowering-patients-with-clear-accurate-and-actionable-healthcare-pricing-information/