The Trump administration is requiring hospitals to post their standard prices online under a rule made on Thursday.
The Centers for Medicare and Medicaid Services (CMS) will require hospitals to update their online price list annually starting Jan. 1, reported The Hill. Before the new rule, CMS required that hospitals share prices with people who requested them.
CMS said the rule was made to “encourage price transparency,” according to The Hill. Administration officials hope the rule will help patients save money and even “encourage them to shop around,” reported the Washington Examiner.
The posted prices may not reflect the actual price if a patients’ insurer or a government payer like Medicare steps in to negotiate, according to the Washington Examiner. (RELATED: Eight Blue States Skimmed Millions Off Medicaid Caregiver Payments For Big Labor)
CMS, which is part of the U.S. Department of Health and Human Services, said it is searching for other ways to “allow consumers to more easily access relevant healthcare data and compare providers,” according to The Hill.
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