The principle behind hospital transparency is simple: Patients should know the price of care before they receive it. Americans should not have to agree to a medical procedure or test without knowing whether it will cost $5,000 or $50,000. Transparency creates the foundation for competition. If patients can compare prices, hospitals have a greater incentive to compete on cost and quality of care.
Voters agree; polling from America’s New Majority Project found 72.8% support “requiring hospitals to publicly post their prices for treatment and services, including negotiating rates with insurers, so patients and purchasers can better understand hospital pricing.”
Unfortunately, hospitals have not always embraced this principle.
