Bill > S978

This bill, titled "Healthcare Competition Reforms," aims to increase access to and competition within healthcare services by establishing new regulations for hospital transactions, providing protections for healthcare workers, and limiting executive compensation at certain non-profit hospitals. The core of the bill introduces the "Preserving Competition in Healthcare Act," which requires state officials—the State Auditor, Attorney General, and State Treasurer—to review significant transactions involving hospital entities (hospitals and their affiliated organizations) valued at $5 million or more, such as sales, leases, or transfers of control, to ensure they do not harm competition or patient care. This review process involves public notice, public hearings, and a 60-day review period, with potential extensions, during which the transaction is prohibited from being finalized. The bill also strengthens whistleblower protections for healthcare professionals, preventing adverse actions against them for reporting violations of medical staff bylaws or making comments about patient care, and prohibits non-compete clauses in employment contracts for hospital-based healthcare professionals, while also limiting the use of non-disclosure agreements that could hinder reporting of safety concerns. Finally, for non-profit hospitals that receive state funds, the bill caps the Chief Executive Officer's (CEO) annual compensation at 400 times the minimum wage paid to any full-time employee, with penalties for violations.