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To amend title XI of the Social Security Act to increase transparency of certain health-related ownership information.
12/20/2024, 9:06 AM
Summary of Bill HR 3262
The main goal of this legislation is to ensure that individuals and organizations involved in the healthcare sector are required to disclose their ownership information in a more transparent manner. This will help to prevent potential conflicts of interest and ensure that patients and consumers have access to accurate and reliable information about the ownership of healthcare facilities and services.
By increasing transparency in health-related ownership information, the bill aims to promote accountability and integrity within the healthcare industry. This will ultimately benefit patients and consumers by providing them with the information they need to make informed decisions about their healthcare providers and services. Overall, Bill 118 hr 3262 seeks to improve transparency and accountability in the healthcare industry by requiring individuals and organizations to disclose their ownership information in a more transparent manner. This will help to ensure that patients and consumers have access to accurate and reliable information about the ownership of healthcare facilities and services, ultimately promoting integrity and accountability within the healthcare sector.
Congressional Summary of HR 3262
This bill requires certain health care entities to disclose specific information about their ownership and finances.
Specifically, the bill requires entities, subject to civil penalties, to annually report to the Department of Health and Human Services (HHS) information relating to mergers, acquisitions, and changes in ownership over the previous year, as well as information on the entity's parent company, if applicable.
The requirements apply to hospitals, certain ambulatory surgical centers, independent freestanding emergency departments, physician-owned practices that have more than 25 physicians, and physician practices that are owned by a hospital, health plan, private equity company, or venture capital firm.
Hospitals must also report information about their business structure, debts, real estate transactions, and certain investments.
HHS must post a summary of the reported information on its website, including trends in consolidation.
