The U.S. House was scheduled to vote on a proposal aimed at increasing healthcare cost transparency, but the vote was delayed. The bill, known as the Lower Costs, More Transparency Act, would require hospitals, ambulatory surgical centers, and diagnostic laboratories to publicly disclose the prices of their services. The goal of the legislation is to help individuals better understand and plan for their healthcare costs.
Currently, many individuals receive medical services without knowing the true cost until after they have received the care. This lack of transparency makes it difficult for people to budget for their healthcare expenses and compare prices across providers.
The bill also addresses the role of Pharmacy Benefit Managers (PBMs), commonly known as middlemen. It requires PBMs to provide employers with detailed information on prescription drug spending. This provision aims to increase transparency in the pharmaceutical industry.
While there is bipartisan support for the bill, it also faces opposition from the healthcare industry and some Democrats. The American Hospital Association (AHA) has expressed concerns about new regulations, including permanent site-neutral payment cuts and additional regulatory burdens. Some House Democrats argue that the proposal does not go far enough in improving transparency with private Medicare plans and private ownership of healthcare facilities.
It remains uncertain when the proposal will be rescheduled for a vote. To pass in the House, the bill requires a two-thirds majority.
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