AIM applauds Senator Rob Schaaf’s healthcare quality and cost transparency bill
Senator Rob Schaaf (R-St. Joseph) has filed legislation that would bring more transparency to the cost and quality of healthcare services in Missouri. Associated Industries of Missouri (AIM) has long supported transparency in healthcare and has made the bill a priority in this legislative session.
Senate Bill 956 would require insurers with programs that publicly assess and compare the quality and cost efficiency of health care providers to conform to standardized criteria. Those who sell or distribute comparative health care cost and quality data must identify the measuring technique used to validate and analyze the data or face a penalty.
“For thousands of consumers and employers in Missouri, cost transparency can help them stretch their healthcare dollars further,” said Senator Schaaf. “Allowing patients to make informed decisions regarding the quality of care or the best price will spur competition and ultimately lower healthcare costs.”
AIM’s president Ray McCarty agreed. “Missouri employers often provide health insurance for employees,” said McCarty. “This bill will allow consumers, including our employers, to have the information they need to make informed decisions about their selection of a healthcare provider, and we thank Senator Schaaf for filing this important legislation.”
Senator Schaaf believes the legislation will help by informing the public earlier about the costs of their healthcare. “I want to make it possible for you to know the out-of-pocket cost of a test or procedure the day before it takes place, not the week after when the bill or explanation of benefits arrives in your mailbox,” he said.
While the bill is getting a late start, McCarty hopes to be able to amend the provisions on to a moving bill dealing with healthcare in the remaining weeks of the legislative session.