Signed by Governor Jared Polis

Vote Smart's Synopsis:

Vote to pass a bill that increases transparency for health care costs in hospitals.

Highlights:

• Requires every hospital to provide the following information for the Department of Health Care Policy and Financing  (Sec. 2):

• A hospital cost report to be submitted to the Centers for Medicare and Medicaid Services; and

• An annual audited financial statement, which must be submitted within 120 days after the end of its fiscal year unless an extension is granted.

• Requires every hospital to provide to the Department an expenditure report containing the information that includes but is not limited to (Sec. 2):

• The total number of available and licensed beds;

• Inpatient statistics in total, including inpatient discharges and patient days;

• Other inpatients statistics, including the number of inpatient surgeries, number of births, number of newborn patient days, number of admissions from the emergency departments;

• Outpatient statistics in total and by type of visit, including emergency department visits, ambulatory surgeries, home health visits, and all other outpatient visits;

• Total gross charges of inpatient and outpatient care;

• Total contractual allowances;

• Total bad debt write-offs;

• Total charity write-offs;

• Total operating expenses, including but not limited to payroll expenses, contract labor expenses, advertising expenses, and supply expenses;

• All other operating revenue;

• Staffing information and staff vacancy rates; and

• The names and transaction prices of acquired and newly constructed hospitals.

• Authorizes the state department to exempt the following types of hospital from the above set of reporting requirements (Sec. 2):

• Psychiatric hospitals;

• Licensed general hospitals that at certified as long-term care facilities;

• Critical access hospitals; and

• Inpatient rehabilitation facilities.

• Requires the Department to submit its findings of the hospital expenditure reports to state legislative committees, the governor, and the state Enterprise Board. (Sec. 2).

• Specifies the bill will go into effect the day following the expiration of the 90-day period after final adjournment of the general assembly, August 2, 2019 (Sec. 3).

Full Bill Text