President Trump's latest executive order called for hospitals to disclose prices for common tests and procedures upfront.
President Trump speaks during a ceremony at the White House on Monday before signing an executive order that calls for upfront disclosure by hospitals of actual prices for common tests and procedures to keep costs down.
But insurers said the idea could backfire, prompting hospitals that now give deeper discounts to try to raise their own negotiated prices to match what high-earners are getting. Health and Human Services Secretary Alex Azar told reporters earlier that the order"will put patients in charge and address the drivers of high healthcare costs … increasing choice and competition."
Though the prices Medicare pays are publicly available, private insurers' negotiated rates generally are not. Industry officials say such contractual information is tantamount to trade secrets and should remain private.
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