MADISON – On Tuesday, President Trump signed an executive order to enforce healthcare costs price transparency. The order imposes a 90-day deadline for the Departments of the Treasury, Labor, and Health and Human Services to develop a plan to implement Trump’s 2019 executive order requiring health insurers and hospitals to disclose healthcare cost details. In response to the order, Wisconsin Manufacturers & Commerce’s Associate Vice President of Government Relations & Senior Political Advisor Rachel Ver Velde said:
“WMC applauds President Trump’s efforts to bring badly needed transparency to healthcare costs. Wisconsin has the fourth highest hospital prices in the country, and we will never be able to lower prices unless we allow patients to make market-based spending decisions based on cost and quality. But they cannot do so when prices remain hidden. Providing easy access to transparent healthcare pricing will allow patients to make informed decisions that will reduce the cost of healthcare for both employers and employees alike. Enforcement of the new policy will be critical, as recent data shows that only thirty percent of Wisconsin hospitals are fully complying with existing transparency rules. WMC is particularly happy to see President Trump return the regulation’s focus to the consumer-friendly 300 shoppable services requirement, rather than allowing the problematic price estimator tools. With strong enforcement, President Trump’s Executive Order on transparency will be a game-changer for healthcare affordability.”
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