Reporting requirements for healthcare transactions in Illinois could be expanded by an amendment to HB 5000, according to a Feb. 5 article from the Holland & Knight law firm.
Here are five things to know:
- Under the amendment, any transactions involving healthcare facilities or provider organizations would be subject to the state’s reporting requirements.
- Today, only transactions between facilities and provider organizations trigger the requirement.
- Entities that own or control healthcare business, such as private equity firms, that have an annual revenue of $10 million or more from Illinois patients, are included under the amendment.
- Private equity investments into a DSO, the sale of a DSO to investors or affiliations of multiple dental practices with a DSO, could be subject to the requirements under the amendment.
- The amendment removes the expiration date of the current statute, which was set to expire on Jan. 1, 2027.
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