Price transparency would mandate that healthcare providers — such as physicians and clinics — display prices for services. Presumably, if consumers know how expensive a procedure or service is, and have to pay for that service out of their own pocket, then they may choose a less expensive option. This would mirror the ACA’s requirement that certain restaurants post calorie counts next to menu items. Jennifer Bell, a healthcare lobbyist in the D.C. area, said she is unsure as to whether Americans will “ever get to the point where cheaper feels better overall.” She said that while cheaper options are adequate, if a loved one gets ill, family members often opt for a more expensive option, which is often perceived as higher quality.
This could take years, according to Bell. Additionally, insurance companies — who are at the frontline of implementing new healthcare rules — need at least 18 months to receive final rules, develop and approve bids and offer the plans to consumers. With no current replacement plan in motion, it could be at least two years before a new healthcare system is activated. The long-term process of healthcare implementation is exemplified by Obamacare, for which full implementation will not be completed until 2022.
According to Bell, one difference between Democrats and Republicans in healthcare policy making is that “Democrats tend to want to dictate very specifically what should happen; they don’t want to leave any room for chance. Republicans are more into flexibility and optionality as long as you meet certain standards.” She noted that this — the strict interpretation of law — was a factor in the Wheaton College v. Burwell case in 2015.