In November 2019, the Trump administration issued an executive order requiring hospitals to post their prices for 300 “shoppable services” by Jan. 1, 2021, or pay a penalty. The rationale was to empower patients and increase competition among hospitals, group health plans and health insurers in individual and group markets. Then-Health and Human Services Secretary Alex Azar called the order “a more significant change to American healthcare markets than any other single thing we’ve done, by shining light on the costs of our shadowy system and finally putting the American patient in control.”
The rule requires hospitals to do three things:
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