Bill > HR7537

This bill, titled the "Corporate Crimes Against Health Care Act," aims to prevent exploitative practices, particularly by private equity firms, within the healthcare sector. It introduces new criminal and civil penalties for "covered parties" (individuals or entities involved with private equity firms or healthcare companies) whose actions lead to patient death or injury due to a "triggering event" at a "target firm" (a healthcare corporation acquired in a change of control). A triggering event includes situations like a company being significantly behind on salary or rent payments, defaulting on loans, or closing down. The bill allows for the "clawback" of "covered compensation" (which includes salary, bonuses, fees, and profits) received by covered parties from the target firm within a 10-year window before or after a triggering event, especially if the compensation was obtained through certain aggressive financial maneuvers or if the company was in poor financial health. It also prohibits payments from federal healthcare programs to entities that sell assets to or use assets as collateral with Real Estate Investment Trusts (REITs), and it repeals a special tax rule for REITs related to healthcare property. Furthermore, the bill mandates comprehensive reporting on ownership and financial information for various healthcare entities to the Department of Health and Human Services, with the goal of increasing transparency and allowing for public access to this data. Finally, it requires a study and report on profit-driven practices in healthcare and their impact on patient care, healthcare workers, and various government health programs.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/7537/all-info