Small Businesses Applaud the House’s Commitment to Improving Healthcare Transparency and Affordability

“We applaud the U.S. House of Representatives for passing the 'Lower Costs, More Transparency Act' (LCMT) and sending the bill to the U.S. Senate this calendar year.  

This bipartisan legislation takes an essential step toward making healthcare more affordable by addressing the rising costs of healthcare services that are hurting small business owners' bottom lines. Specifically, the LCMT advances site-neutral payments for certain services so that patients are not charged more based on the location the service was received. Additionally, the bill includes important billing transparency reforms and requires hospitals to publicly disclose the price of healthcare services. 

Unlike every other segment of our economy, large healthcare systems have been allowed to keep consumers in the dark about how much their services will cost. By pulling back the curtain on healthcare prices and anti-competitive practices, this legislation will help move our healthcare system to one that incentivizes quality and efficiency, not corporate mergers and acquisitions and dishonest billing practices. 

Small businesses need access to quality, affordable healthcare in order to thrive, and they strongly support efforts to reduce costs throughout the healthcare system. Taking steps to lower healthcare prices will level the playing field and ensure more small firms can offer quality coverage as a way to recruit and retain a talented workforce. We urge the Senate to prioritize passing the LCMT and advance policies that increase competition and prevent unfair healthcare pricing.”

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