A new effort to cut hospital costs

• This cost-cutting initiative is funded by billionaire John Arnold, who has already put up millions to fight the drug industry. Arnold's foundation is expected to give NASHP more than $2 million this year, per Modern Healthcare.

Why it matters: Arnold is just one man, and NASHP writing some model bills is no guarantee that any or many states will adopt those ideas.

• But every new bit of scrutiny on hospital costs is one step closer to a real debate about the real drivers of U.S. health care spending.

Go deeper:

• Hospitals say they want affordable care, but actions aren't clear
• Hospitals' dueling financial realities
• Hospital charges surge over last 2 decades, especially in the ER