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President Trump signs yesterday's executive order. Photo: Mark Wilson/Getty Images

Industry groups came out with guns blazing yesterday against President Trump's executive order on price transparency for hospitals. And plenty of experts are skeptical that it will bring prices down.

What's next: Industry will have ample opportunity to kill or weaken the new rules while the administration fills in the details through the regulatory process.

Between the lines: Health care economists and hospitals are on the same side — although perhaps for different reasons.

  • "I would expect the health care industry to oppose any government mandate to disclose what it considers to be confidential business information," the Kaiser Family Foundation's Larry Levitt said.
  • "While transparency might not lead directly to lower prices, it could spur political action to deal with them, and that’s something the industry certainly wants to avoid," Levitt added.

What they're saying: If the price-disclosure requirements "take the wrong course...it may undercut the way insurers pay for hospital services resulting in higher spending," Chip Kahn, president and CEO of the Federation of American Hospitals, said in a statement.

  • "Competition experts...agree that disclosing privately negotiated rates will reduce incentives to offer lower rates, creating a floor – not a ceiling – for the prices that hospitals would be willing to accept," said Matt Eyles, president and CEO of America’s Health Insurance Plans.

Both groups cited the Federal Trade Commission, which wrote in a 2015 blog post that it's "especially concerned when information disclosures allow competitors to figure out what their rivals are charging, which dampens each competitor’s incentive to offer a low price, or increases the likelihood that they can coordinate on higher prices."

Go deeper

Dan Primack, author of Pro Rata
54 mins ago - Politics & Policy

Biden starts negotiating to raise capital gains tax rate

Illustration: Aïda Amer/Axios

President Biden wants to nearly double the capital gains tax paid by wealthy Americans, as first reported yesterday by Bloomberg and confirmed by Axios.

Counterintuitive: Biden's plan is better for private fund managers (hedge, PE, VC, etc.) than what he proposed during the campaign.

Scoop: Caitlyn Jenner makes it official for California governor

Caitlyn Jenner. Photo: Paul Archuleta/Getty Images

Former Olympic decathlete and reality TV star Caitlyn Jenner has filed her initial paperwork to run for governor of California and will officially announce her bid later today, her campaign tells Axios.

The big picture: Jenner, a longtime Republican, is seeking to replace Democratic Gov. Gavin Newsom in a recall election, hoping her celebrity status and name recognition can yield an upset in the nation's most populous state.

Kendall Baker, author of Sports
2 hours ago - Sports

New laws, new rules bring big changes to college sports

Illustration: Sarah Grillo/Axios

The college sports landscape could change more in the next six months than it has in the last 50 years, as the NCAA grapples with new competition, new laws and new rules.

How it works... 1. Startup leagues: Investors are flocking to new leagues that aim to compete with the NCAA, evidence of just how much opposition there is to the amateurism model — and how much belief there is in new ones.