Bill > SB718

This bill establishes a comprehensive hospital transparency framework in West Virginia aimed at providing greater public insight into hospital financial operations and healthcare costs. The legislation requires hospitals to publish detailed annual reports on their websites within 120 days of their fiscal year-end, including financial statements such as assets, liabilities, income, expenses, and ownership information. Hospitals must also submit extensive reports to the West Virginia Health Care Authority (WVHCA), including a complete schedule of current rates, a breakdown of services, facility fees, uncompensated and charity care amounts, and copies of discount contracts with third-party payors. The bill mandates that the Public Employees Insurance Agency and the Bureau for Medical Services provide rate information by procedure code on a hospital-by-hospital basis starting July 1, 2026. To ensure compliance, the bill establishes a penalty of $1,000 per day for hospitals that fail to meet reporting requirements after receiving a non-compliance notice. The legislation is motivated by concerns about rising healthcare costs and the impact of hospital consolidation, which studies suggest can increase prices by up to 40%. The bill's ultimate goal is to drive down healthcare costs for consumers and health plans by promoting transparency and enabling better comparison of hospital rates and services. The new transparency requirements will take effect on July 1, 2026, giving hospitals time to prepare for the new reporting standards.

Health and Social Services

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=718&year=2025&sessiontype=RS&btype=bill