RI H7721

Prohibits unlicensed individuals, corporations, or entities from owning medical practices, employing healthcare licensees, or practicing medicine, with exceptions for safety net clinics, public hospitals, school-based health clinics, and tribal health clinics

Requires medical practices to maintain physician-majority ownership (majority of voting shares, majority of directors, and all officers except secretary/treasurer must be licensed physicians)

Bans management services organizations from controlling clinical decisions, setting physician compensation, advertising under their own name, or entering noncompete/nondisclosure agreements with employed physicians

Mandates annual reporting by healthcare entities to the Department of Health starting January 1, 2027, including ownership structures, organizational charts, affiliated providers, and comprehensive financial reports

Establishes enforcement through attorney general subpoena power, $10,000/day penalties for violations, private right of action with up to $100,000 in statutory damages per violation, and civil penalties up to $500,000 for reporting failures