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Hospital Transparency And Reporting Requirements

Concerning transparency requirements for hospitals, and, in connection therewith, creating more timely submissions of data; providing insights into transfers of cash and profits and reserves, including those leaving Colorado; reporting on all information received; reporting information by each hospital in addition to health systems; disclosing executive compensation, including compensated incentives; reporting mergers and acquisitions of hospitals and physicians; reporting investments in capital equipment and construction; and making an appropriation.
2023 Regular Session
Health Care & Health Insurance
Bill Summary

Current law requires the department of health care policy and financing (state department) to annually prepare a written hospital expenditure report. The bill changes the name of the report to the hospital transparency report (transparency report).

The bill adds specified information that each hospital shall report to the state department for the transparency report.

No later than July 1, 2024, the bill requires each hospital to provide specified information to the state department for previous fiscal years.

The bill authorizes the state department to impose certain enforcement mechanisms against a hospital that does not provide all of the information required to be reported to the state department.

Current law requires the state department to submit the transparency report to the house of representatives public and behavioral health and human services committee. The bill requires the transparency report to also be submitted to the house of representatives health and insurance committee.The bill requires the state department to report on the transparency report during the state department's "SMART Act" hearing.

Beginning July 1, 2024, the bill requires any patient bill to include a clear, plain language description of the services the patient is being billed for and a statement that the patient has a right to receive a detailed explanation of the services charged and who to contact to receive such information follow industry standard billing practices, including, at a minimum, the date of service, the patient's name, the provider's name, a description of the services provided, and the charges for each service .The bill appropriates $75,167 to the state department from the healthcare affordability and sustainability cash fund to implement the bill. It is anticipated that the state department will receive an additional $75,165 in federal funds for the implementation of the bill.

(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)

(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)




Bill Text

Email addresses for the Colorado legislature have changed from the domain to the domain on December 1, 2022. Details