In my CEO Round Table this morning, our attorney updated us on a recent ruling affecting healthcare price transparency.
In particular, The US Court of Appeals for the District of Columbia Circuit rejected an attempt by the Trump administration to require drug manufacturers to disclose their wholesale acquisition costs for drugs that are advertised on television, finding the disclosure regulation “largely untethered” to the Medicare and Medicaid statutory schemes from which the Centers for Medicare and Medicaid Services (CMS), a component of the US Department of Health and Human Services (HHS), drew its rulemaking authority.
In response, the Trump Administration is pushing hard to write price transparency into law. As reported by Bloomberg reporters Jennifer Jacobs and Shira Stein, President Trump wants a price transparency provision in the next stimulus to hospitals. The White House believes tying the additional stimulus funds to a price transparency requirement would end the court battles.
Price transparency might be delayed, but it is not going away. Furthermore, the providers that embrace price transparency will have a competitive advantage over the ones who are doing nothing and hoping it will go away.
I would encourage you to set up a 15-minute call with me by clicking here [SCHEDULE CALL]. In our short call, you will learn how your provider organization can cost effectively outsource all of your CMS price transparency requirements to Hospital Pricing Specialists to meet the new rules, effective January 1, 2021.