On May 24th, the House Energy and Commerce (E&C) Committee conducted a full committee markup to consider a series of bills, including H.R. 3561, the PATIENT Act of 2023. Among other reforms, the PATIENT Act would create a new requirement for hospitals, large physician groups, and certain other health care providers to report information about their ownership across several categories, including private equity, venture capital, and hedge funds, to the Department of Health and Human Services (HHS).
If passed as proposed, any physician practice with more than 25 doctors or that is owned by a private equity company or other investors would need to disclose its ownership to HHS to be publicly reported.
In the markup session, the E&C Committee voted unanimously (49-0) to approve the bill. Congress is expected to consider including a version of this bill in an omnibus package later this year.
SPG’s more detailed summary of the proposal is available here. We’re tracking this provision and other health-related proposals that may become part of the omnibus closely — if you have questions, please reach out to us at any time to discuss.