Kagen bill calls for open disclosure of health care pricing
News of the North- Published 02/23/2010
WASHINGTON, D.C. — U.S. Rep. Steve Kagen (D-Wis.) introduced new legislation Thursday, Feb. 25, aimed at achieving open and full pricing disclosure in medical products or services.
The “Transparency in All Health Care Pricing Act of 2010” would finally allow patients to see the price of a pill before they swallow it, allowing patients to receive the highest quality care at the lowest possible prices.
Specifically, the bill says that any individual or business entity that offers health care related products or services must at all times openly disclose all of their prices, including on the Internet.
“When was the last time you bought anything without knowing what it cost?”. Kagen, an M.D., asked. “My patients, and my constituents, want to know the price of a pill before they swallow it – and certainly before they buy it,” said Dr. Kagen. “They want to go shopping for the best medical products and services at the lowest possible prices. It is the American way.”
“Prices for our prescription drugs, hospital services and health insurance premiums have shot through the roof, primarily because of an opaque, non-transparent medical marketplace. Everywhere I go, people are saying, ‘Just show me the price, so I will know if I can afford it.’ Everyone knows how much they pay for a cup of coffee, and it is time we finally have a chance to see all of the prices an insurance company has accepted as payment in full for their services.”