Final answer:
Pricing transparency enables consumers to make informed decisions about healthcare by providing readily available information on the price of healthcare services.
Step-by-step explanation:
Pricing transparency is defined as readily available information on the price of healthcare services and enable consumers to make informed decisions about their healthcare options. It allows consumers to compare prices for different healthcare services and providers, helping them find the most affordable and cost-effective options. For example, if pricing transparency is in place, a consumer can easily see the price difference between two hospitals for a specific procedure and choose the one that best fits their budget.