New Trump Administration Rule Will Require Hospitals Post Prices Online

Last week, the Trump administration finalized a rule requiring hospitals to post a list of their standard prices online, reports The Hill . Hospitals are already mandated to publicize this information on request, but the Centers for Medicare and Medicaid Services (CMS) said the new rule would require the information be posted online to "encourage price transparency" and improve "public accessibility." Hospitals will be required to update the information annually starting Jan. 1, 2019. CMS also said it is considering how to "allow consumers to more easily access relevant healthcare data and compare providers." Boosting price transparency has been a priority for the administration as a way to lower healthcare costs. "This is a small step towards providing our beneficiaries with price transparency, but our work in this area is only just beginning," said CMS Administrator Seema Verma in July. "Price transparency is core to beneficiary empowerment and making sure Americans ... have the tools they need so they can make the best decisions for them and their families."