Health Care Prices Revealed and Information to Consumers Explained Transparency Act

This bill requires hospitals, clinical diagnostic laboratories, imaging services providers, and ambulatory surgical centers to publicly disclose standardized pricing information for healthcare services in a machine-readable format. It mandates disclosure of gross charges, discounted cash prices, payer-specific negotiated charges, and other pricing details for a minimum of 300 "shoppable" services. The bill establishes civil penalties for non-compliance, with fines ranging from $300 per day for smaller facilities to over $10 million annually for larger hospitals. The goal is to make healthcare pricing more transparent for consumers, helping them compare costs and make informed decisions about their care. The requirements will take effect on January 1, 2025.