President Donald Trump signed an executive order on Tuesday directing departments of the Treasury, Labor and Welfare and Human Services to make healthcare prices transparent.
The order directs the department to “quickly implement and enforce” Trump's healthcare price transparent regulations.
The department ensures that hospitals and insurance companies disclose actual prices rather than estimates and take action to rival prices at hospitals and insurance companies, including prescription drug prices.
Additionally, enforcement policies must be updated to ensure that hospitals and insurance companies are compliant with requirements to ensure price transparency.
Here's how Trump's tariffs on China will affect drug pricing and other medical costs
President Donald Trump will arrive at the White House on February 22nd. (Tierney L. Cross/Getty Images)
“When medical prices are hidden, large companies such as hospitals and insurance companies are profiting at the expense of American patients,” the White House wrote in a statement. “Price transparency helps patients and employers get the best deals in healthcare,” he said.
The executive order points to many concerns about current medical prices, including prices vary between hospitals in the same area.
“One Wisconsin patient saved $1,095 by shopping for two tests between two hospitals within 30 minutes of each other,” the statement said.
The White House argues, in one economic analysis, that Trump's original price transparency rules could, if fully implemented, could save $80 billion to consumers, employers and insurance companies by 2025. I'm doing it.
President Donald Trump signed an executive order on Tuesday, demanding action that could help transparent medical prices. (istock)
“This is about fentanyl”: tariffs are important to combat the “war on drugs,” says Trump and Cabinet officials
It also added that shopping for care will reduce the average by 27% on 500 common services.
“They can check them, compare them, go to different places, so they can buy the highest quality care at the best cost,” Trump wrote in a statement. “And this is about high quality care. You're looking at it too. You're looking at the talent comparison. This is very important. And you're looking at the cost too. You're looking at the lowest. Get the best doctor at the cost of the .
The White House said American patients are “fed up with the status quo” and 95% say transparency in healthcare prices is a key priority. Over 50% said it should be the government's top priority.
During his first term, Trump took historic action by mandating hospitals and insurance companies to make prices public.
President Donald Trump signs executive orders in an oval office. (Andrew Harnik/Getty Images, file)
A lawsuit was filed against the Biden administration in 2023, claiming that the requirements for transparency in prescription drugs have not been enforced.
“While previous administrations have failed to prioritize further implementation and enforcement of these requirements, President Trump has provided his promise to make the healthcare system more affordable and easier to navigate for patients. “The statement said.
Click here to get the Fox News app
Fox News Digital previously reported that the administration's tariffs on China will affect drug costs.
Consumers rely on China for drugs for other mental disorders such as anxiety and antidepressants.
