In January 2021, federal laws requiring hospital price transparency went into effect. The laws dictate that hospitals must openly publish their actual prices, which in theory promotes a more competitive healthcare landscape, where consumers can compare prices while shopping for healthcare providers.
As of last summer, only 5.6 percent of hospitals were in compliance, and it’s unclear if access to this information will have the intended effect of lowering healthcare prices and costs to consumers.
Price Transparency was a healthcare industry trend in our 2022 March Healthcare Classic. Explore this year’s interactive bracket to see the most impactful healthcare trends face off.