President Donald Trump signed an executive order on June 24 that calls for hospitals to publicly disclose the actual cost of services in an effort to improve price and quality transparency in America’s health care system.
According to the White House, at Trump’s direction, the Department of Health and Human Services (HHS) will require hospitals to disclose service costs in an “easy-to-read format” and make such information more accessible to patients before they receive their care.
The president spoke for about 22 minutes in the Grand Foyer of the White House as he described the executive order as a “truly big action” that would “fundamentally” change the health care marketplace and keep costs down.
“This landmark initiative continues our campaign to put American patients first,” he said. “We will empower patients with the information they need to search for the lowest costs and the highest quality care.”
Trump said the “lack of price transparency has enriched industry giants greatly,” asking why the issue was not addressed already.
“This is bigger than anything we’ve done in this particular realm,” he said.