Bill > HB552

This bill introduces the Medical Corporation Accountability Act, which aims to increase transparency and protect healthcare provider autonomy by establishing new reporting requirements and restrictions on private equity and hedge funds in the healthcare sector. The legislation requires hospitals receiving local or state funding to submit annual reports detailing their ownership structures, including information about parent entities, affiliations, land and facility ownership, and whether any owners are private equity or hedge funds. Hospitals must also report salary ranges for healthcare providers and total compensation for chief executive officers. The Health Care Authority will be responsible for collecting these reports and providing an annual summary to the legislature. Critically, the bill prohibits private equity and hedge funds from interfering with healthcare providers' professional judgment, preventing them from making decisions about patient care, medical records, hiring and firing, billing procedures, and medical equipment selection. The bill defines key terms like "control," "ownership," and "health care provider" to clearly delineate the scope of these restrictions. By implementing these provisions, the legislation seeks to maintain the integrity of medical decision-making and increase transparency in hospital ownership and operations.

Health and Social Services

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=552&year=25