GAO Report Renews Debate Over Device Price Confidentiality
This article was originally published in The Gray Sheet
Hospitals, group purchasing organizations and other health care stakeholders want Congress to do away with pricing confidentiality clauses in purchase contracts for implantable devices, but industry wants to maintain its ability to keep device prices secret.
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Despite industry opposition, President Trump signed a cost transparency executive order giving HHS the regulatory power to reveal to the public, health-care facilities’ costs of devices and procedures.
Lack of transparent pricing for health care services was discussed at a recent Senate committee hearing on high US health-care costs. Fraud and waste of products at hospitals were also on the agenda.
A survey published in Health Affairs finds many orthopedic surgeons don’t know the prices of the implants they employ. The researchers and others point to price ignorance as an important challenge to containing overall health care costs, but industry says the issue is being overhyped.