Why do we need Price Transparency?

Healthcare costs in the United States have risen year over year for decades, faster than the overall rate of inflation.  The rates at which healthcare facilities are reimbursed by insurance vary dramatically from facility to facility and insurer to insurer, creating economic and financial inefficiency. 

In an effort to create more competitive and equitable reimbursement models, the US federal government instituted a regulation requiring healthcare facilities to publish their negotiated rates in a machine-readable format.  This Price Transparency is expected to enable economic market forces to begin to address the inequities and inefficiencies in healthcare.