Price transparency is a win for seniors and patients!
Washington – AMAC applauds the House of Representatives for passing the Lower Costs, More Transparency Act, H.R. 5378. The Lower Costs, More Transparency Act is a great first step in using free market principles to reduce the price of healthcare for seniors and patients across the country. This legislation ensures patients have access to cost information on care, treatment, and services before stepping foot into a hospital or care facility.
AMAC Action President, Bob Carlstrom, applauded passage of the bill saying, “AMAC and our members are excited to see this important first step in lowering the price of healthcare pass the U.S. House of Representatives. The importance of this legislation to reduce the cost of healthcare cannot be understated and we see the immense support for this legislation in the large bipartisan votes in favor.”
AMAC Action is a long-time supporter of increasing price transparency requirements for hospitals, diagnostic laboratories, ambulatory surgical centers, and insurers. AMAC has also called for increased transparency of the business practices used by pharmacy benefit managers (PBMs). Seniors will benefit from this legislation by lowering the costs paid by Medicare by allowing site-neutral drug administration. Finally, all Americans will benefit by making it easier and more transparent for generic drugs to enter the market.
AMAC’s members have also shown support for the Lower Costs, More Transparency Act with more than 15,000 members reaching out to their representatives in support of the legislation.
