Trump signs healthcare price transparency executive order

[NetJedi]

https://www.reuters.com/world/us/trump-signs-price-transparency-executive-order-2025-02-25/

"WASHINGTON, Feb 25 (Reuters) - U.S. President Donald Trump signed an executive order on Tuesday aiming to improve price transparency on healthcare costs by directing federal agencies to strictly enforce a 2019 order he signed during his first term.

The order directs the Departments of the Treasury, Labor, and Health and Human Services to within 90 days come up with a framework to enforce Trump's 2019 executive order forcing health insurers and hospitals to disclose healthcare cost details.

This includes requiring the disclosure of actual prices not estimates, update existing guidance or proposing new regulations that ensure price information is standardized, and updating or issuing enforcement policies that guarantee compliance."

--SNIP ---
"Trump's initial 2019 order required hospitals to maintain a consumer-friendly display of pricing information for up to 300 shoppable services and a machine-readable file with negotiated rates for every single service a hospital provides."

Win for consumers and WAY overdue; way to go POTUS.

Well past time for Congress write and pass legislation on this and get it onto the President's desk for signature.

 

[1srelluc]

That will set the MSC (medical system complex) on their ear.

 

[dblack]

https://www.reuters.com/world/us/trump-signs-price-transparency-executive-order-2025-02-25/

"WASHINGTON, Feb 25 (Reuters) - U.S. President Donald Trump signed an executive order on Tuesday aiming to improve price transparency on healthcare costs by directing federal agencies to strictly enforce a 2019 order he signed during his first term.

The order directs the Departments of the Treasury, Labor, and Health and Human Services to within 90 days come up with a framework to enforce Trump's 2019 executive order forcing health insurers and hospitals to disclose healthcare cost details.

This includes requiring the disclosure of actual prices not estimates, update existing guidance or proposing new regulations that ensure price information is standardized, and updating or issuing enforcement policies that guarantee compliance."

--SNIP ---
"Trump's initial 2019 order required hospitals to maintain a consumer-friendly display of pricing information for up to 300 shoppable services and a machine-readable file with negotiated rates for every single service a hospital provides."

Win for consumers and WAY overdue; way to go POTUS.

Well past time for Congress write and pass legislation on this and get it onto the President's desk for signature.

Lol... Why would anyone give a shit? Seriously, where's the incentive for patients to demand cheaper health care? So they can save the insurance company some money? Yeah, I'll get right on that.

 

[elektra]

If this is important, knowing the costs of medical treatments before you receive medical treatments. Why did the democrats and rinos not do it

 

[NetJedi]

Lol... Why would anyone give a shit? Seriously, where's the incentive for patients to demand cheaper health care? So they can save the insurance company some money? Yeah, I'll get right on that.

It requires providers to be up front with out-of-pocket costs, what deals insurance providers have with the care provider, actual service costs and what providers actually pay for prescription drugs, and it requires them to publish this information on consumer facing internet tools. So price based decisions can be made BEFORE the consumer decides whether or not to do business with a given provider.

How else do you propose to incite price competition in a system where the consumer is largely de-coupled from actual costs? The incentive for consumers comes from the premiums they're paying and the out-of-pocket costs they end up paying.

Granted it doesn't address the rampant overconsumption in the current system but it's a good first step.

 

[Marener]

It’s a good idea, but it didn’t work the first time and it’s not going to work this time either.

 

[dblack]

It requires providers to be up front with out-of-pocket costs, what deals insurance providers have with the care provider, actual service costs and what providers actually pay for prescription drugs, and it requires them to publish this information on consumer facing internet tools. So price based decisions can be made BEFORE the consumer decides whether or not to do business with a given provider.

That doesn't answer my question. Why would anyone care what the prices are?

There are only two types of health care consumers. People who are insured, and don't care what their health care costs because someone else is picking up the tab. Or people without insurance, who can't afford health care at all and don't care what their health care costs because they'll only get it if someone else is picking up the tab.

That's why health care prices keep going up.

How else do you propose to incite price competition in a system where the consumer is largely de-coupled from actual costs?

We're over-insured. Insurance is meant to be a stopgap against unforeseen calamity. Not a means of financing necessities.

We need to cut out all the regs and incentives that promote insurance as a means of financing health care.

The incentive for consumers comes from the premiums they're paying and the out-of-pocket costs they end up paying.

Rates will go up anyway. Might as well get the most bang for your buck, right?

Granted it doesn't address the rampant overconsumption in the current system but it's a good first step.

"Overconsumption"? What does that even mean?

 

[NetJedi]

That doesn't answer my question. Why would anyone care what the prices are?

Because ultimately taxpayers and responsible consumers pay for them, not to mention eliminating the out-of-pocket price shocks that patients end up on receiving end of after receiving care.

Overconsumption? What does that even mean?

People getting healthcare products and services that don't need them because they're decoupled from the actual costs, it's especially prevalent in Medicaid. It's inevitable in a cost shifting scheme like we currently have in place.

It's also partially responsible for healthcare prices rising so fast.

Demand > supply = higher prices

 

[MarcATL]

If this is important, knowing the costs of medical treatments before you receive medical treatments. Why did the democrats and rinos not do it

Did they do it, or did the industry do it?

 

[dblack]

Because ultimately taxpayers and responsible consumers pay for them, not to mention eliminating the out-of-pocket price shocks that patients end up on receiving end of after receiving care.

No one gives a shit about "ultimately". If they can push costs off on someone else they'll do it every time.

People getting healthcare products and services that don't need them because they're decoupled from the actual costs ...

That's exactly what I'm getting at. That's the problem. But that term, "over-consumption", sounds like liberal doublespeak. Like it's those greedy health care consumers causing the problem. Health care consumers are just playing by the rules. It's the rules that are fucked up.

 

[elektra]

Did they do it, or did the industry do it?

Obviously, the industry did not do it

 

[CowboyTed]

No one gives a shit about "ultimately". If they can push costs off on someone else they'll do it every time.

That's exactly what I'm getting at. That's the problem. But that term, "over-consumption", sounds like liberal doublespeak. Like it's those greedy health care consumers causing the problem. Health care consumers are just playing by the rules. It's the rules that are fucked up.

Do you ever get the feeling that they are going to use this to increase prices...

The EU system is the best... Government argues a price, under EU equality law that price has to be given to everyone...
No one gets a special discount..

Here are the results

This is good old-fashioned Social Democracy at work...
Yep UK is paying one tenth the price US is paying.

The reason UK selling Wegovy is because they are giving so much out there are supply issues. Nordisk is building a factory in Dublin to sort that out.. But they are giving Ozempic instead (same stuff)...

 

[Blackrook]

It’s a good idea, but it didn’t work the first time and it’s not going to work this time either.

Thank you for your dose of negative thinking, Marener.

 

[dblack]

Do you ever get the feeling that they are going to use this to increase prices...

Of course. That's why they get in bed with government in the first place.

The EU system is the best... Government argues a price, under EU equality law that price has to be given to everyone...
No one gets a special discount..

This is good old-fashioned Social Democracy at work..
Yep UK is paying one tenth the price US is paying.

Nah. Take the socialism somewhere else. The allure of "free shit" is what got us into this mess. It won't get us out.

 

[Independent thinker]

https://www.reuters.com/world/us/trump-signs-price-transparency-executive-order-2025-02-25/

"WASHINGTON, Feb 25 (Reuters) - U.S. President Donald Trump signed an executive order on Tuesday aiming to improve price transparency on healthcare costs by directing federal agencies to strictly enforce a 2019 order he signed during his first term.

The order directs the Departments of the Treasury, Labor, and Health and Human Services to within 90 days come up with a framework to enforce Trump's 2019 executive order forcing health insurers and hospitals to disclose healthcare cost details.

This includes requiring the disclosure of actual prices not estimates, update existing guidance or proposing new regulations that ensure price information is standardized, and updating or issuing enforcement policies that guarantee compliance."

--SNIP ---
"Trump's initial 2019 order required hospitals to maintain a consumer-friendly display of pricing information for up to 300 shoppable services and a machine-readable file with negotiated rates for every single service a hospital provides."

Win for consumers and WAY overdue; way to go POTUS.

Well past time for Congress write and pass legislation on this and get it onto the President's desk for signature.

The estimates thing was always nothing but horse shit.

 

[Scoutster]

I snapped my ankle in a hunting accident in North Carolina in November 2022. It was a mess. I had to get back to Minnesota. I had hospital bills from multiple places in North Carolina, while they patched me up enough to get back home five days later Then I had hospital in MN, turns out I got one of the best orthopedic surgeons in the state and he did mention he hadn’t seen many injuries as bad as mine except for maybe getting it chopped off in a farm accident could’ve been worse. So I had his bills coming in, the clinic’s bills coming in, the outpatient center that he did my surgery at not to mention rehab. couldn’t make sense out of any of it thankfully, I have really good insurance and my final bill after about $60k my was about ~2600 bucks. I thought he was full of shit when I first met him getting back from North Carolina when he said it would take a year to recover. He was right. 18 titanium screws titanium plate and had to drill through my ankle to fix some weird ligament I guess he did it to one of the Minnesota Vikings players that got hurt few years ago. Anything to make things more clear to the consumer would be nice.