Mayor Eric Adams signed legislation on Friday to increase health care price transparency.
The New Law, Introduction. 844-A, passed unanimously by the New York City Council. It allows New Yorkers to compare the costs of New York City hospitals for a specific service. Additionally, he established the nation’s first Office of Health Care Accountability Development. The office is responsible for monitoring health care and hospital pricing practices and helping New Yorkers understand how much health care costs.
“Health care is a human right, not a privilege, and that includes ensuring price transparency in our health care system,” Adams said in a press release. “New Yorkers don’t have to break the bank to get the health care they need, and Intro. 844-A helps New Yorkers have all the information they need to stay healthy and get the care they deserve.
Proposition 844-A, sponsored by New York City Councilwoman Julie Menin, aims to increase transparency in health care costs by establishing the office. Objectives to be accomplished by analyzing health care costs for city employees, transmitting information on hospital operating costs on the website, gathering relevant parties to investigate health care costs, providing hospital financial documents and making recommendations based on health care costs.
“The Health Care Accountability and Consumer Protection Act will transform health care in New York City by bringing transparency to costs and empowering New Yorkers with the information they deserve, making New York City the first city in the nation to have such an office,” Menin said. “With this legislation, we will finally establish the Office of Health Care Accountability to address the long-standing problem of cost overruns in our health care system.
“We can no longer allow our families, our businesses and our city governments to be burdened with excessive health care costs,” she continued. We’ve seen the positive impact of price transparency measures in other states, and it’s time for New York City to curb the exorbitant health care costs that currently cost the city $11 billion, or ten percent of our city budget.