An Act relative to hospital profit and fairness
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill proposes to impose civil penalties on publicly funded hospitals in Massachusetts if their profits exceed a certain threshold or if executive compensation is deemed excessive. The goal is to ensure hospitals prioritize patient care over maximizing profits, particularly given public funding. It aims to increase accountability and transparency regarding hospital finances. The bill seeks to address concerns about hospital profitability and executive pay.
Key provisions
- Establishes civil penalties for hospitals with excessive profits.
- Defines ‘excessive profits’ based on a percentage of hospital revenue.
- Addresses executive compensation levels at publicly funded hospitals.
- Creates a process for determining whether compensation is excessive.
- Requires hospitals to report financial data publicly.
- Allows for the recovery of penalties by the state.
- Specifies the types of hospitals subject to the provisions.
Who is affected
- Publicly funded hospitals in Massachusetts
- Hospital executives and board members
- Patients receiving care at publicly funded hospitals
- State government (through funding of hospitals)
Notable changes
- Introduces a mechanism for civil penalties related to hospital profits.
- Adds a focus on executive compensation as a factor in determining financial fairness.
Bill text
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Sponsors
Official sponsors from legislative records.
19 on record
Primary sponsor
James J. O'Day
Cosponsors
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