The White House says a new executive order signed by President Donald Trump will mandate increased transparency on treatment costs and price negotiations, HealthPayerIntelligence reports.
The executive order was issued June 24.
According to the report, payers, providers and self-insured health plans must inform patients of any out-of-pocket costs or any costs associated with their treatment.
“To make fully informed decisions about their healthcare, patients must know the price and quality of a good or service in advance,” the order states. “With the predominant role that third-party payers and Government programs play in the American healthcare system, however, patients often lack both access to useful price and quality information and the incentives to find low-cost, high-quality care.”
To read the full report on HealthPayerIntelligence, click here.