{"id":2557,"date":"2023-05-03T15:28:19","date_gmt":"2023-05-03T15:28:19","guid":{"rendered":"https:\/\/wifamily.news\/?p=2557"},"modified":"2023-05-03T16:31:27","modified_gmt":"2023-05-03T16:31:27","slug":"coalition-of-free-market-advocates-support-price-transparency-act-2","status":"publish","type":"post","link":"https:\/\/wifamily.news\/?p=2557","title":{"rendered":"Coalition of Free-Market Advocates Support Price Transparency Act"},"content":{"rendered":"

This post originally appeared at https:\/\/will-law.org\/coalition-of-free-market-advocates-support-price-transparency-act\/<\/a><\/p>\n

\n
\n
\n
\n
\n

Legislation tackles high healthcare costs with free market principles<\/strong><\/h1>\n
The News<\/strong>: On Wednesday, State Senator Mary Felzkowski (R-Irma), State Senator Julian Bradley (R-Franklin), State Representative Rob Brooks (R-Saukville), and State Representative Donna Rozar (R-Marshfield) introduced the\u00a0Know Your Healthcare Costs Act (LRB-1676)<\/a>. The Wisconsin Institute for Law & Liberty (WILL), Wisconsin Manufacturers & Commerce (WMC), and other business groups came out in support of the legislation, as it would lay out clear requirements for hospitals to share pricing with consumers. A press conference was held at the Wisconsin State Capitol to formally introduce the bill.<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
The Quotes:\u00a0<\/strong>WILL Research Director, Will Flanders, PhD, stated,\u00a0\u201cHealthcare is the only sector of the economy where patients have to pay for services without first knowing the cost\u2014leading to uncertainty, surprise medical bills, and patients avoiding or delaying care. Greater transparency will introduce market forces into healthcare, driving greater competition, lowering costs and empowering patients to take control of their healthcare.\u201d<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
WMC Senior Director of Workforce, Education & Employment Policy, Rachel Ver Velde, added, \u201cInformed health care consumers create a competitive market. Therefore, it is vitally important for employers and their employees to have access to transparent and easily understood medical cost data. WMC applauds Senator Felzkowski and Representative Brooks for introducing this legislation and encourages other legislators to support this important tool for employers.\u201d<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
Willard T. Walker, President and CEO of the Walker Group, continued, \u201cWisconsin employers are extremely concerned about the increasingly unaffordable cost of healthcare. Price transparency will drive competition and empower employers and their employees to be informed consumers and find the best care at the best price. As our state legislature convenes for the 2023-24 legislative session, we need the necessary tools to help employers and employees make smart healthcare choices.\u201d<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
The Know Your Healthcare Costs Act:\u00a0<\/strong>LRB-1676 would introduce healthcare price transparency measures in Wisconsin that closely mirror federal hospital price transparency rules that were enacted in 2021. These rules, promulgated under President Trump and continued under President Biden, require hospitals to provide cost information for certain services to patients and the public.<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
The bill would require hospitals to make a machine-readable digital file publicly available that contains a list of standard charges for certain items and services provided by the hospital, as well as a consumer-friendly list of \u201cstandard charges\u201d for certain shoppable services. These \u201cstandard charges\u201d must be always available to the public and must be displayed in a prominent location on the home page of the hospital\u2019s website.<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
Background:\u00a0<\/strong>Wisconsin\u2019s hospital costs have risen to the\u00a04th highest<\/a>\u00a0nationally. Families have become increasingly concerned about the price of healthcare, with 67% of Americans reporting that they worry about unexpected medical bills.\u00a0Recent polling<\/a>\u00a0shows that 90% of Wisconsinites support greater healthcare price transparency to better control healthcare costs.<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
Price transparency is a tool that puts power back into the hands of patients\u2014giving them an outlet to shop for services, compare prices, and make more informed decisions about their health. Established\u00a0federal rules<\/a> already\u00a0require hospitals to disclose pricing information. However,\u00a0a recent review<\/a>\u00a0found that only 45% of sampled Wisconsin hospitals were fully compliant with the federal rules. In response, several states have taken bipartisan action to codify price transparency requirements into state law, including Colorado and Texas. The proposed legislation would build on those efforts.<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
In October of 2022, WILL released a policy report,\u00a0Empowering Patients: How Price Transparency Will Lower Healthcare Costs<\/a>.\u00a0The report explains how healthcare price transparency works, and how research has found that it can lower costs for consumers. This recently introduced legislation closely mirrors the solutions outlined in this report.<\/div>\n
\u00a0<\/div>\n
\u00a0<\/div>\n
Read More:<\/strong><\/div>\n