Please ensure Javascript is enabled for purposes of website accessibility

Trump Administration Finalizes Major Data Sharing Rules for Healthcare Providers and Patients

By Mark Prvulovic - Mar 9, 2020 at 6:46PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Patients will have much more agency over their medical information.

The Trump administration finalized two highly anticipated rules regarding healthcare data sharing that are expected to make it easier for patients to access, download, and store their medical information..

The Department of Health and Human Services (HHS) issued two rules to improve access to medical data as part of the bipartisan 21st Century Cures Act. These rules would compel insurers and hospitals to make patients' healthcare information easily shareable by modern technological standards. The idea is that once these rules are in place, patients will be able to store and share their medical records on their own devices.

A picture of an American flag over Capitol Hill.

Image source: Getty Images.

HHS Secretary Alex Azar went on to describe these rules as the beginning of a new chapter in how patients interact with the American healthcare system. "From the start of our efforts to put patients and value at the center of our healthcare system, we've been clear: Patients should have control of their records, period. Now that's becoming a reality."

What do these new rules mean?

Most of the key requirements stated in these new rules are expected to come into effect by January 2021, although some will start later that year. These requirements include allowing increased patient access to information through a third-party app of their choice, making healthcare provider directory information available to the public, and letting patients take their information with them as they move from provider to provider.

A number of healthcare technology companies have expressed support for these new rules. Speaking in a conference call with investors, Cerner (CERN) CEO Brent Shafer stated earlier in February that he is completely in favor of these new requirements and finds them to be a step forward for the industry.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Cerner Corporation Stock Quote
Cerner Corporation
CERN

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
321%
 
S&P 500 Returns
111%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 06/25/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.