Who wanted to know how much their healthcare was going to cost or quality before they had a procedure? RIP, price transparency for healthcare?
Although the article says the Biden admin won’t pull the plug on price transparency, it essentially says, he’s pulling the plug on price transparency.
And while the Biden administration will continue price transparency initiatives, they probably won’t drive its healthcare agenda, experts said. Biden’s administration is likely more willing than its predecessor to pursue other legislative or regulatory changes to rein in healthcare costs, including price setting.
The main argument is that it’s too hard to track and doesn’t reveal anything that would change behavior. That is correct. It wasn’t designed to change the behavior of the patient yet, it was designed to change the system to accept an engaged patient who can respond to price.
We can’t measure each step in changing bureaucracy on it’s own, it has to be measured as progress towards the end game. An engaged patient the knows price and quality and can choose their provider accordingly. Just a thought.