Democrat and Republican lawmakers in a House Ways and Means committee hearing on Tuesday were split on how much price transparency can help curb healthcare costs, with Republicans criticizing the Biden administration for not doing enough to enforce price transparency reporting requirements on hospitals.
Since 2021, hospitals have been required to post a machine-readable standard charges files for their items and services, along with the actual price of 300 shoppable services, Healthcare Dive notes. Only 25% of hospitals are fully complying with price transparency rules, according to Patient Rights Advocate. CMS has fined four hospitals for noncompliance to date. Read more.
