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Research has found that transparency can help a patient and their families make informed choices when selecting a health plan, hospital, clinical practice, or choosing among alternative treatments, although there are questions about how well and how often patients make use of such information and how best to present
Introduced in House (01/20/2023) This bill provides statutory authority for requirements for hospitals and health insurance plans to disclose certain information about the costs for items and services.
Hospital price transparency helps Americans know the cost of a hospital item or service before receiving it.
Price transparency reveals the degree of pricing information available to buyers and sellers in a market. It ensures healthy competition, efficient markets, and better pricing of products. Transparency in stock trading means market participants have full knowledge about the price and volume of trading stocks.
Disadvantages of Price Transparency in Healthcare Many fear that patients shopping around for their healthcare could drive down overall healthcare costs. Another disadvantage of price transparency in healthcare is that it isnt always easy to implement and track.
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Hospital Price Transparency Rule. As of Jan. 1, 2021, hospitals are required to publicly post via machine-readable files five different standard charges: gross charges; payer-specific negotiated rates; de-identified minimum and maximum negotiated rates; and discounted cash prices.

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