Small Business Majority and partners host briefing on healthcare price transparency reform

On April 14, Small Business Majority, The National Alliance of Healthcare Purchaser Coalitions, and Families USA held a briefing on Capitol Hill for congressional staff on the need for healthcare price transparency reform. Access to affordable, high-quality healthcare provides a critical safety net for entrepreneurs and their employees; it also helps small firms recruit and retain talented workers.

That’s why it’s concerning that healthcare is becoming increasingly unaffordable, putting more people at risk of medical debt and forcing many to delay necessary care simply because they cannot afford a doctor’s visit or medical procedure. 

To address rising costs, the organizations called on Congress to pass the Patients Deserve Price Tags Act (H.R. 5582, S. 2355) to strengthen and expand price transparency regulations for hospitals and health plans. While most industries publicly post their prices, healthcare remains a notable exception—leaving consumers in the dark about the true cost of care until the bill arrives. Pulling back the curtain on the true cost of health services will not only lower costs for patients and consumers through improved consumer choice and competition but will also provide small business owners with critical data that allows them to purchase more cost-friendly plan options that fit their employees’ needs.