HB 350

Synopsis

This Act creates the Diamond State Hospital Cost Review Board, which will be responsible for review and approval of annual hospital budgets beginning with budgets for calendar year 2026. Hospital budgets established under this process are required to adhere as closely to the spending benchmark as is reasonable given the hospital’s financial position and associated economic factors, promote efficient and economic operations of the hospital, and maintain the hospital’s ability to meet its financial obligations. As a temporary measure until the Board begins operations, hospitals are required to charge no more than 250% of Medicare costs to any payer for hospital services in calendar year 2025.

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