Hospital and ASC Price Transparency Act of 2023

Bill 118 hr 4839, also known as the Hospital and ASC Price Transparency Act of 2023, aims to increase transparency in pricing for medical services provided by hospitals and ambulatory surgical centers (ASCs) in the United States. The bill requires hospitals and ASCs to publicly disclose the prices they charge for common procedures and services, including both the negotiated rates with insurance companies and the cash prices for uninsured patients.

Additionally, the bill mandates that hospitals and ASCs provide patients with a good faith estimate of the total cost of their care before they receive treatment. This will help patients make more informed decisions about their healthcare and avoid surprise medical bills.

Furthermore, the bill requires the Department of Health and Human Services to create a publicly accessible website where patients can compare prices for medical services at different hospitals and ASCs. This will promote competition and drive down healthcare costs for consumers. Overall, the Hospital and ASC Price Transparency Act of 2023 aims to empower patients with information about healthcare costs and promote price competition in the medical industry. By increasing transparency and providing patients with more information about the cost of their care, the bill seeks to make healthcare more affordable and accessible for all Americans.