The Trump Administration is making strides in attempting to change up the health care pricing and quality, and as of Monday, a future plan is in place.
The proposal entails hospitals to publicly disclose discounted prices they negotiate between the hospital and insurance companies.
This requirements end goal is to help medical patients find appropriate deals on medical services. Blue Cross Blue Shield of North Released a statement to WNCT on the matter.
“We strongly support efforts to give consumers more access to meaningful information so they can make the best choices for their health care. Transparency in pricing is at the center efforts to improve quality and lower costs. We were the first insurer in the country to make in-network prices available to the public by publishing an online tool that allows people to compare pricing for specific procedures by provider and location. We also provide customers with access to specific, transparent pricing information based on their individual plan. This allows customers to see what they will pay for a procedure, and compare prices by location and provider so they can make informed health care decisions.”– Blue Cross Blue Shield, North Carolina
Some insurance companies and hospitals argue that this proposal has the potential to not lower prices but heighten them. this is due to each hospital knowing the opponents’ prices and not wanting to lose money to their competitors.