PATIENT Act of 2023

The PATIENT Act of 2023 aims to lower healthcare costs and increase clarity for consumers by requiring hospitals, labs, and insurance companies to publicly disclose their actual prices and negotiated rates. It mandates that hospitals provide an annual list of "shoppable services" in a standardized format, making it easier for patients to compare costs before receiving care.

Beyond price transparency, the bill introduces stricter reporting requirements for Pharmacy Benefit Managers (PBMs) regarding drug rebates and prohibits "spread pricing" in Medicaid, a practice where PBMs charge the government more for a drug than they pay the pharmacy. Additionally, the legislation extends essential funding for community health centers and medical residency programs to ensure continued access to care in underserved areas.