President Trump signed an executive order in June that could force price disclosure in health care. Insurers, doctors, and hospitals would have to reveal the secretly negotiated rates they pay for services or charge for them. A month later, the Centers for Medicare and Medicaid Services proposed a rule requiring hospitals to make more price information publicly available. The lack of price transparency behind these efforts is the driving force behind my company — but even if it means taking attention away from what we’re doing, I wholeheartedly support these moves.
The order is part of a growing movement on the federal level to increase transparency in health care. While the executive order and the president who signed it don’t enjoy universal support, this is issue is worth putting politics aside for the greater good. Increasing transparency in health care is beneficial for consumers and represents a step forward in fixing a broken health care system.