TRUMP SIGNS EXECUTIVE ORDER FOR PRICE TRANSPARENCY IN HEALTHCARE – Historically, healthcare prices were opaque which benefited hospitals and insurance companies
U.S. President Donald Trump signed an executive order aiming to impose price transparency on healthcare costs.
According to the order’s text published in the White House website, historically, healthcare prices were opaque, which benefited hospitals and insurance companies at the expense of patients, employers, and taxpayers.
“The Biden Administration failed to take sufficient steps to fully enforce my Administration’s requirement that would end the opaque nature of drug prices by ensuring health plans publicly post the true prices they pay for prescription drugs,” read the order’s text.
The Secretary of the Treasury, Secretary of Labor, and Secretary of Health and Human Services are in charge of implementing and enforcing the transparency regulations. This includes ensuring the disclosure of actual prices, standardizing pricing information, and updating enforcement policies.
