Plan Standardization

White House

This morning, President Biden signed an executive order entitled "Promoting Competition in the American Economy" which hopes to promote competition across major sectors of the U.S. economy. There's 72 initiatives across a dozen agencies total impacting a wide range of industries; naturally this includes healthcare policy and the HHS Dept.

In the healthcare field, there are four areas addressed by Biden's XO: Prescription drugs, hearing aids, hospital consolidation and the ACA exchange marketplaces:

Prescription Drugs: Americans pay more than 2.5 times as much for the same prescription drugs as peer countries, and sometimes much more. Price increases continue to far surpass inflation. As a result, nearly one in four Americans report difficulties paying for medication, and nearly one in three Americans report not taking their medications as prescribed.