"We also agree that patients should have accurate, real-time information about costs so they can make the best, most informed decisions about their care", said the lobbying group America's Health Insurance Plans, in a written statement.
"The President has promised American patients the affordability they need, the options and control they want, and the quality they deserve, and that's what today's action helps deliver", he added.
The American Hospital Association (AHA) and the Federation of American Hospitals (FAH) both said they supported the aims of the administration around transparency in the absence of further details.
The administration said that lack of transparency results in less competition and artificially high costs.
When asked by reporters to expand on the requirement for hospitals to share prices with patients, a senior administration official said the details of that approach would be spelled out in a future proposed rule.
- A plan to pull together the government's various health care quality rating systems for hospitals, nursing homes, and Medicare Advantage plans. Many economists have similar concerns.
"We are not endorsing Democrats nor banning Republicans", it said.
Chicago police release body cam footage of Jussie Smollett reporting his attack
The office then dismissed 16 felony counts against Smollett for faking a hate crime. "I don't want to be filmed", Smollett says. There are about 90 hours of video footage in total, much of which is from surveillance cameras high above Chicago's streets.
Forcing the hospitals and insurers to disclose their agreements "has a chilling effect on negotiation - it could create a race to the top", he said.
President Trump signed an executive order Monday requiring the cost of health care procedures to be published before patients receive the services, a sweeping overhaul of the health care industry, if implemented.
The data described in the executive order is different from hospital list prices made public earlier this year.
Hospitals charging lower rates, for example, might raise them if they see competitors are getting higher reimbursement from insurers. "I think the exciting part of this executive order is the President and administration are really moving to put the patient in the driver's seat and be empowered for the first time with knowledge and information". That's when insured patients get an "explanation of benefits", which shows how much the hospital charged, how much of a discount their insurer received and the amount a patient may owe.
And he presented that plan Monday in the Grand Foyer of the Old Executive Office Building, surrounded by patients, medical staff and health officials in his administration. "And then you just hear so many false, scurrilous attacks that undermine the program, and frankly, just make it actually harder to run it, because they scare grantees and others away from being willing to work with us to care for these kids".
Trump's order also requires that patients be told ahead of time what their out-of-pocket costs like deductibles and copays will be for many procedures.
The order directs agencies to develop rules to require hospitals and insurers to provide information "based on negotiated rates" to the public. Hospitals argue it could threaten hospitals' financial security, while insurers say it could drive health care prices higher, not lower.