From The Daily Caller:
The Centers for Medicare and Medicaid Services (CMS) will require hospitals to update their online price list annually starting Jan. 1, reported The Hill. Before the new rule, CMS required that hospitals share prices with people who requested them.CMS said the rule was made to “encourage price transparency,” according to The Hill. Administration officials hope the rule will help patients save money and even “encourage them to shop around,”
Related: “Can you imagine going down to the Chevy dealer and picking out a new car, selecting the color and all the options you wanted including the engine, transmission and fancy wheels and then when you ask the salesman how much he won’t tell you?
“We don’t know the fee.” He says, “We will just send you a bill after you pick up the car.”
That’s nuts, no one would consider buying a car that way and yet that is exactly the way people buy medical care every day.”
Some people imagine this new regulation will result in significant change that brings some price competition to health care resulting in lower costs and better care. It might, but I fear there are deeper dis-functions built into the system that will take more than price lists to fix. Still it is a good first step.