Washington state's new transparency law for hospital finances: 3 things to know

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Washington Gov. Jay Inslee signed into law May 3 a bill that will require hospitals to report additional financial information, according to a report published in The Wenatchee World.

Three things to know: 

1. House Bill 1272 will require hospitals to report more financial information, like expenses and income, and patient demographic data to the Washington State Department of Health.

2. New expenses to be reported include blood supplies, contract staffing and IT, while new revenue to be reported include donations, grants and joint venture income.

3. Advocates say the law will help paint a better picture of hospitals' financial footing. However, most Republican lawmakers in the state's legislature voted against the bill.

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