Trump’s 2025 Executive Order Promotes Further Healthcare Price Transparency
TL/DR –
President Donald Trump announced an executive order on February 25, 2025, to further promote healthcare price transparency, building on a similar order from 2019. The order will result in increased audits for hospitals and health plans to ensure compliance, and expect them to disclose actual prices rather than estimated amounts for reimbursement. The executive order will also lead to standardizing price information across hospitals, and calls for health plans to post their Medicare Part D plans related to their Pharmacy Benefit Managers.
Trump Enhances Healthcare Price Transparency with New Executive Order
In a bid to foster healthcare price transparency, President Donald Trump unveiled a new executive order on February 25, 2025. Building upon a 2019 order, Trump’s initiative will impact hospitals, health plans, and pharmacy benefit managers (PBMs) within the next 90 days and beyond.
Implications for Hospital Price Transparency
The order signifies an increase in CMS audits and enforcement for hospital noncompliance. Additionally, it mandates the disclosure of actual prices instead of estimated reimbursement amounts and the standardization of price information.
Effect on Health Plans
Health plans will face increased audits and enforcement, along with an obligation to disclose Medicare Part D plans concerning their PBMs. However, the specifics of these regulatory changes and how they will interact with state-level audits are yet to be clarified.
Future of Price Transparency in the Healthcare Sector
As the landscape for price transparency evolves, more changes to current regulations are expected over the next decade. These may include consumer-friendly requirements for hospitals and machine-readable files for other healthcare organizations.
How Forvis Mazars Can Assist
Price transparency is a permanent feature of modern healthcare. Organizations prepared to adapt to requirements will not only enhance patient experiences but also strengthen their performance. At Forvis Mazars, we assist organizations in achieving Regulatory Excellence by adhering to price transparency rules and utilizing price transparency data.
Don’t hesitate to contact our professionals for further information about the new price transparency requirements.
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