FTC Chairman Urges Healthcare Services Companies to Ensure Price Transparency
Healthcare services companies must provide patients with pricing information that is timely, accurate and complete, Federal Trade Commission (FTC) Chairman Andrew N. Ferguson said in letters sent to 24 of the largest such companies in the nation. Ferguson sent the letters to remind the companies of their legal obligations and to highlight concerns that healthcare […] The post FTC Chairman Urges…
The Federal Trade Commission (FTC) Chairman, Andrew N. Ferguson, has written letters to 24 of the largest healthcare services companies in the nation, urging them to ensure price transparency for patients. The letters remind the companies of their legal obligations and highlight concerns that they may be violating the FTC Act if they fail to provide transparent price information.
While the Centers for Medicare & Medicaid Services' price transparency rules establish a baseline for pricing information, the letters emphasize that a healthcare facility's compliance with those rules does not ensure they have met their obligations under Section 5 of the FTC Act. The FTC has prioritized promoting price transparency across multiple markets, including rental housing, ticketing, and auto sales and leasing.
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