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by zests
2055 days ago
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> Trump Administration Announces Historic Price Transparency Requirements to Increase Competition and Lower Healthcare Costs for All Americans > President Trump Signs “Most Favored Nation Price” Executive Order on Drug Pricing Here are two headlines I offer without comment that can be searched with your favorite search engine for more information. |
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Fair enough. More transparency is certainly a worthwhile goal, however, this rests on the basic assumption that a consumer always has the opportunity to make a rational choice between different alternative products or services (drugs, medical procedures, etc).
From what I've read, I doubt this is the problem in practice. Are you going to compare prices during a medical emergency? If your doctor tells you that you need an X-ray, will you stop him and check the nearby hospitals whether their X-rays are cheaper? How useful is price transparency if your essential medication is only made by a single company that can do arbitrary price hikes? What do you do if the "market rate" for some essential operation is still more than you can afford?
[1] https://www.hhs.gov/about/news/2019/11/15/trump-administrati...