Bill > HR4882

This bill, the Clinical Laboratory Price Transparency Act of 2023, aims to promote laboratory price transparency under the Medicare program. The key provisions include: 1. Beginning January 1, 2025, each applicable laboratory (as defined in the Social Security Act) that receives payment under Medicare for providing a specified clinical diagnostic laboratory test must make publicly available on its website the discounted cash price or gross charge for each such test. They must also update this information at least annually. 2. The Secretary of Health and Human Services must establish methods and formats for providers and suppliers to use in compiling and making public their standard charges and prices, which will be updated as appropriate. 3. The Secretary must establish a process to monitor compliance with these requirements and can impose civil monetary penalties of up to $300 per day on laboratories that fail to comply, with the ability to increase the penalty amount through future rulemaking. The Secretary can waive or reduce penalties in cases of significant hardship for the laboratory.