In this Executive Order, the President aims to enhance price transparency in healthcare to empower patients and help reduce costs. Building on previous efforts, the order mandates that hospitals, health plans, and other entities make straightforward pricing information available for patients to make well-informed choices. Key government departments are instructed to enforce these transparency regulations vigorously and standardize pricing data to make it easily understandable for everyone. The order highlights that these actions are crucial to promoting a more competitive and affordable healthcare system.
Simple Explanation
The President wants to make sure that when people go to the doctor or hospital, they know exactly how much it will cost, just like when they buy a toy at a store. This is to help people understand and choose the best and cheapest options for their health.