Lack of pricing transparency makes controlling health care costs a big challenge for employers.
Over two years have passed since the federal hospital price transparency rule was enacted. Still, America struggles with high, painfully-opaque pricing across health care that hurts employers, workers, patients, and taxpayers. The Centers for Medicare and Medicaid Services recently announced that in 2021, the nation spent $4.3 trillion on health care–nearly twice the average of other nations in the developed world. Noncompliance and price gouging abound in a market where employers and consumers are blindsided by costs revealed only after care is rendered.
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