Price Transparency Hearing Held by Ways and Means

On May 16th, the Ways and Means Committee held a hearing titled “Health Care Price Transparency: A Patient’s Right to Know” to address the issue of price transparency. The focus of the hearing centered around the importance of Advanced Explanation of Benefits (AEOB) tools in providing comprehensive transparency regarding the cost of healthcare before it takes place. Chairman Smith underlined the significance of price transparency in his opening statement, citing:

“Americans want to know – and they have the right to know – what their healthcare will cost.” Chairman Smith also discussed the negative impact caused by the lack of knowledge surrounding healthcare costs. Smith noted that “When a family faces a sudden illness, a chronic health issue, or a life-threatening accident their first thought is fear for the health of their loved one. Their second is to worry about how they will afford it.”

About careviso

At careviso, we strive to make transparency a reality. Our new product, seeQer, is a secure online platform that enables benefits analysis calculations, identifies the need for prior authorization, and represents the next step in effectively managing personalized healthcare. By using seeQer, patients can receive information about expected out-of-pocket expenses for tests and procedures, leading the way in promoting price transparency in the healthcare industry.

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