FAST FIVE: Trump Plans Executive Order To Help Lower Health-Care Costs
The order would force more transparency among health-care pricing, an industry that is accustomed to transacting in private.
The stunning lack of transparency in this market has allowed for immense cost disparities to persist between various providers – prices that are often completely divorced from the actual cost of the procedure.
A bipartisan plan introduced in the Senate is seeking to accomplish something similar by mandating that providers disclose the price of a given procedure within 48 hours of the request.
As WSJ revealed in a blockbuster report published last summer, the opacity surrounding medical-services pricing has sometimes led hospitals to wildly inflate the costs of some of the most common procedures.
For years now, health-care costs have dramatically outpaced consumer-price inflation.