Health Care Price Transparency Act of 2023

The Health Care Price Transparency Act of 2023 requires hospitals, ambulatory surgical centers, imaging providers, and clinical laboratories to publicly disclose detailed pricing information for health care services starting in 2025-2026. Hospitals must provide standard charges, discounted cash prices, and information about at least 300 "shoppable" services in consumer-friendly formats on their websites, with similar requirements for other providers. The bill also establishes new transparency requirements for group health plans and pharmacy benefits managers, requiring them to publish pricing data and make it accessible to consumers. Noncompliant providers face civil monetary penalties, with hospital penalties up to $2 million per year. The goal is to help patients understand costs before receiving care and make more informed health care decisions.