Rep. Jim Banks Introduces Bill to Lower Hospital Costs
Washington, January 11, 2019
Today, Congressman Jim Banks (R-IN) introduced the Hospital Competition Act of 2019. This bill aims to freeze the practice of hospital consolidation in which large companies buy smaller hospitals and then raise their prices for higher profit.
Said Rep. Banks, “Americans are justifiably concerned about the staggering cost of health care. While northeast Indiana is blessed to have a competitive hospital system with high-quality care, many parts of the country are not so fortunate. We must take every opportunity available to us to lower health care costs for all Americans. My bill would do just that through common-sense reforms that introduce greater market competition in the hospital sector.”
Watch Congressman Banks explain further here.
In 2017, Americans spent more than $1 trillion on hospital services. That number is expected to approach $2 trillion by 2026. The Hospital Competition Act would reduce these costs by: