President Donald Trump has signed an executive order aimed at making healthcare costs clearer for Americans. This measures healthcare facilities and insurance companies to publicly reveal service prices.
• The order instructs the Departments of the Treasury, Labor, and Health and Human Services to enforce new price transparency regulations.
• Hospitals and insurers must disclose actual prices instead of estimates, allowing for comparisons, including drug prices.
• Regulations require hospitals to show prices for up to 300 services and maintain a machine-readable file with rates for all services.
• Hidden healthcare prices benefit large companies, while transparency is expected to lower costs and help consumers find better deals.
• Trump emphasized that patients will have the information needed to compare prices and seek high-quality care at lower costs.
The executive order aims to empower patients with knowledge about healthcare costs to promote competition and improve care quality.
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