Providers and Payers COMPETE Act

Providers and Payers COMPETE Act

This bill requires the Centers for Medicare & Medicaid Services (CMS) to report annually on the impact of Medicare regulatory changes on provider and payer consolidation (e.g., vertical or horizontal integration among providers, suppliers, and other health care entities). The CMS must also solicit public comment on the projected impact of a proposed rule with respect to provider and payer consolidation.

The bill also requires the Center for Medicare and Medicaid Innovation to evaluate the impact of tested models on provider and payer consolidation.

The Providers and Payers COMPETE Act, also known as Bill 118 hr 3284, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to promote competition in the healthcare industry by addressing issues related to provider consolidation and anti-competitive practices by payers.

One key aspect of the bill is the establishment of a task force that will be responsible for monitoring and investigating anti-competitive behavior in the healthcare industry. This task force will have the authority to take action against providers and payers who engage in practices that stifle competition and drive up costs for consumers.

Additionally, the Providers and Payers COMPETE Act includes provisions aimed at increasing transparency in healthcare pricing and billing. This includes requirements for providers and payers to disclose pricing information to consumers, as well as measures to prevent surprise billing and ensure that patients are not hit with unexpected costs. Overall, the Providers and Payers COMPETE Act seeks to level the playing field in the healthcare industry and ensure that consumers have access to affordable, high-quality care. By promoting competition and transparency, this bill aims to drive down costs and improve the overall quality of healthcare in the United States.