Despite the requirement for hospitals and insurers to disclose negotiated prices, the impact on patient costs remains ambiguous nearly four years post-regulation. Advocates express deep disappointment over Congress not including price transparency measures in key legislation before Trump's potential return to office.
Proponents of increased pricing transparency argue that employers are utilizing this data to mitigate escalating health care expenses. James Gelfand, CEO of the ERISA Industry Committee, emphasizes the need for Congress to act, stating, "The last thing you want to do is start over."
While regulatory compliance among hospitals is inconsistent, the federal government's actions, which include sending warning letters and imposing a limited number of fines, raise questions about the enforcement effectiveness of transparency regulations.
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