CA AB616

Authorizes the Office of Health Care Affordability to publicly disclose audited financial reports and comprehensive financial statements from physician organizations, similar to existing disclosure practices for hospitals and other providers.

Requires physician organizations with 50 or more physicians and those part of fully integrated delivery systems to submit audited financial reports or comprehensive financial statements to the office for public disclosure.

Exempts small physician organizations (under 50 physicians) from public disclosure requirements while still requiring them to submit confidential financial information to the office.

Authorizes the Department of Managed Health Care to publicly disclose financial information about risk-bearing organizations using a process equivalent to health care service plan disclosures, while protecting individual plan-specific rates from disclosure.

Requires physician organizations already reporting to the Department of Managed Health Care or the office to provide financial data including balance sheets, income statements, and revenue/expense information without creating new reporting burdens.