Reaction Data, a an online healthcare research platform based in American Fork, Utah, recently surveyed nearly 300 healthcare leaders about their opinions on the executive order signed by President Donald Trump June 24 related to price disclosure.
The executive order aims to lower healthcare costs by improving price transparency. It directs governmental agencies to set rules requiring disclosure of discounted rates hospitals and insurance companies negotiate for care. It also addresses transparency regarding patients' out-of-pocket costs for medical services.
As part of the survey, Reaction Data asked nearly 300 C-suite executives, physicians, nurses and pharmacists and directors from various provider organizations to share steps their organization will take in light of the rule.
Here are four responses:
1. Neurologist: "Hospitals will have to increase the manpower to generate the statements which have been quite clear and transparent. The executive order would not add anything new to the current system."
2. CFO: "As a private home care provider, our rates are already transparent as we initiate a service agreement at the time of admission that states all of applicable pricing. As a consumer, I like the idea that pricing transparency is being extended to hospitals."
3. Chief of staff: "Comply, but chargemasters are so distorted by the influence of Medicare historically paying a 'percent of usual and customary,' I have no idea what any of this 'transparency' will actually accomplish. My hope is that it will help to enlighten the fact that private pay and high-deductible patients are getting the shaft, and that needs to change."
4. Family physician: "Analyze cost of medical services within our packages."
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