Smith Commends President Trump’s Efforts to Improve Health Care Price Transparency

WASHINGTON – House Ways and Means Committee Chairman Jason Smith (Mo.) released the following statement after President Trump signed an executive order directing the Departments of Treasury, Labor, and Health and Human Services to implement and enforce President Trump’s health care price transparency regulations: “Over the last four years, soaring health care costs driven by out-of-control inflation have put a heavy strain on American families. President Trump understands that one of the ways we can bring down costs is by strengthening the right of patients to know the actual price they will pay before they step foot in a doctor’s office, fill a prescription, or schedule a procedure. Last Congress, the Ways and Means Committee held hearings to examine the ways price transparency can lower costs and enhance care quality for patients. Unfortunately, the Biden administration failed to hold hospitals and health insurers accountable, forcing Congress to take matters into our own hands and advance legislation to improve health care transparency for patients. This executive order is a welcome step to building on President Trump’s price transparency rule from his first term and House Republican efforts from last Congress. By increasing transparency and accountability, we can drive down costs and put patients back in control of their health care.”