5 Trends to Look for in Healthcare Cost Transparency

The hospital price transparency rule was implemented more than two years ago. Sadly, America continues to struggle with expensive, painfully opaque healthcare pricing that harms employers, employees, patients, and taxpayers. The Centers for Medicare and Medicaid Services recently reported that the country spent $4.3 trillion on healthcare in 2021, roughly twice as much as comparable developed countries on average. Noncompliance and price gouging still exist in a market where consumers are easily blindsided by costs revealed only after care is rendered. A recent study found only 16 percent of hospitals nationwide comply with price transparency guidelines. Additionally, 100 million Americans are in debt for their healthcare.