New Colorado laws mandate hospitals increase financial transparency

Colorado Gov. Jared Polis signed HB23-1226, a measure that will mandate hospitals provide additional financial information to the state, CPR News reported June 2.

Under the new measure, effective next July, hospitals will have to provide financial details about their acquisitions, plans for construction projects and details on how they move money around. 

The news comes after Colorado Lt. Gov. Dianne Primavera signed HB23-1215, a law that increased transparency around facility fees and prohibited hospitals from charging facility fees for telehealth.

"Sometimes just by shining a light on what's going on with these practices, there's a public pressure created that will make hospitals voluntarily do better in cases where they're not," Rep. Chris deGruy Kennedy, a sponsor of the bill, told CPR News. "I also think that there are certain kinds of public policies that we can write based on this [information.]"

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