EDITORIAL: Health care: Trump push for price transparency is sound
U.S. District Judge
The
Insurance companies also opposed the Trump plan, arguing that if some health care providers see other providers are getting higher insurance payments for their services, they too will want higher payments.
In the real world, that's called capitalism. And it shouldn't be outlawed anytime soon by powerful interests of the health care/hospital/insurance industrial complex.
The hospital association argued the Trump plan to require prices for 300 common procedures be posted online amounted to "coercion," and that prices would actually go up due to higher reporting expenses.
And while patient advocates say the COVID pandemic has made it even more important to have transparency in prices, hospitals argue COVID expenses will make it more difficult to pay for price reporting.
We say balderdash to these arguments.
The Trump plan calls for hospitals to post their prices and make them available in a format that will allow consumer groups to set up service quality and measuring sites to assist consumers. It also requires the hospitals to say how much they would take for a service if a customer pays cash.
As readers of these pages will attest, we seldom agree with Trump policies, but the hospital price transparency is a good start to creating more competition and lower cost in the health-care industry. Insurance companies also face new transparency regulations from the Trump administration.
An appeals court judge should see through the flimsy and desperate arguments the hospitals and insurance companies are throwing up in condemnation of basic capitalism.
The ruling could still be rejected on appeal. That's why it's important for both parties in
Price transparency in health care will go a long way to lowering costs and enhancing access.
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