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Increased Price Transparency for Lab Tests in Medicare

This act aims to increase price transparency for laboratory tests for individuals using the Medicare program. Starting in 2025, healthcare providers will be required to publicly disclose test prices, allowing patients to better understand costs and make informed decisions about their healthcare. This is intended to facilitate price comparison and potentially reduce diagnostic expenses.
Key points
Laboratory test providers must publish test prices on their websites starting January 1, 2025.
Price information will include discounted cash prices, and deidentified minimum and maximum negotiated rates with insurers.
Prices must include all ancillary services related to the test, such as specimen collection.
Non-compliance with the regulations may result in financial penalties.
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Additional Information
Print number: 118_HR_3248
Sponsor: Rep. Miller-Meeks, Mariannette [R-IA-1]
Process start date: 2023-05-11