RI S2097

Hospitals, their parent organizations, and federally qualified community health centers must submit quarterly financial reports to the Executive Office of Health and Human Services (EOHHS) beginning October 1, 2026, including balance sheets, income statements, cash on hand, revenues, and operating costs.

Reports are due within 60 business days after each quarter ends and must be signed by the entity's chief financial officer with an attestation of truthfulness; late submissions incur a $500 per day fine.

EOHHS will assess reports for financial risks and may require corrective action plans, including forensic audits, if entities face significant financial jeopardy or imminent insolvency that could threaten public health and safety.

Creates a restricted receipt account exempt from the 15% indirect cost recovery requirement to fund the program's administration and potentially subsidize audits for entities with insufficient resources.

Expands the EOHHS Secretary's authority from "coordinating" to "overseeing and directing" healthcare benefits administration and adds a duty to promote fiscal integrity, transparency, and accountability in the state's health care system.