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President Trump takes aim at drug, hospital prices in State of the Union

On Feb. 5, President Donald Trump delivered the State of the Union address covering a variety of issues, including trade policy, jobs growth and healthcare.

During his speech, as transcribed in Vox, the president reiterated his support for more price transparency within healthcare, both for drug prices as well as price of care. 

"I am asking Congress to pass legislation that finally takes on the problem of global freeloading and delivers fairness and price transparency for American patients," he said. "We should also require drug companies, insurance companies and hospitals to disclose real prices to foster competition and bring costs down."

In November, the Trump administration issued a healthcare plan titled "Reforming America's Healthcare System Through Choice and Competition," which aims to improve quality while curbing healthcare spending.

Among other points of action, the plan calls for:

• A repeal or scale back of certificate-of-need laws
• Reducing restriction on physician-owned hospitals
• Increased price transparency
• Expanding health savings accounts
• Making it easy for patients to access their own medical records

During the State of the Union, President Trump was also critical of the pharmaceutical industry and drug prices.

"It is unacceptable that Americans pay vastly more than people in other countries for the exact same drugs, often made in the exact same place," he said. "This is wrong, unfair and together we can stop it. And we will stop it fast."

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