Donald Trump has just signed new executive order for healthcare prices that could have massive impact on patients
Donald Trump claimed that this would be beneficial for the citizens of the United States.
Since his return to the White House, Donald Trump has been making waves, and one of his latest executive orders could spark major change in the healthcare industry.
This new executive order aims to improve transparency in healthcare costs by requiring healthcare providers and insurers to publicly disclose their pricing. Now, patients have the ability to compare treatment costs at different locations, empowering them to make more informed decisions about their care.
Historically, discussions about medical expenses have been shrouded in secrecy, negotiated behind closed doors between healthcare professionals, hospitals, pharmaceutical companies, and insurance providers.
Trump’s decision has garnered some support, marking a bold push for greater compliance with laws he first introduced in 2019 but were rejected by Vice President Biden. During the signing ceremony earlier this week, Trump emphasized the significance of the new policy, stating, “It is one of the most significant things that can occur in terms of lowering costs and improving healthcare.”
“It may take a little time to take effect, but Biden stopped it immediately upon taking office, and in my view, that was a huge mistake. But that wasn’t the only thing that happened.”
In addition to rolling out this initiative, Trump emphasized the efforts to strengthen the process with key improvements.
“It allows people to negotiate prices, and yet when you go to a hospital or visit a doctor, you’re not even allowed to talk about the costs,” he said. “You don’t know what the price is. Now, you can talk about it, and it’s one of the biggest steps forward. Many who’ve been in the industry for a long time believe this could bring real benefits—it’s the most significant move you can make to lower costs.”
While Trump acknowledged that his plan faced some opposition, he remained confident it would ultimately benefit patients.
“It may not be great for pharmaceuticals or drug companies, and I guess you could say it’s not great for hospitals. But if you have a top-tier hospital that truly excels, this could be great for them, because people will want to go there,” he argued.
Despite Trump’s assertions that this would lead to lower prices, many groups representing the insurance industry disagreed, claiming that cost regulations would actually drive up rates.
Additionally, hospital organizations voiced concerns, arguing that publicly revealing prices for every service and item could violate their First Amendment rights during Trump’s time in office.
They argued that the policy stripped them of the ability to negotiate with insurers and engage in price bargaining, a flexibility they had previously relied on.
