The bill amends the Healthcare Contracting Simplification Act to introduce regulations regarding network leasing and to clarify definitions related to healthcare contracts. Key definitions are updated, including the addition of terms such as "third party," which refers to individuals or entities that contract with a contracting entity to access healthcare services or discounts. The definition of "health benefit plan" is expanded to include nonfederal governmental plans and dental care contracts, while the exclusion of dental-only plans is removed. Additionally, the bill specifies that healthcare contracts must outline the rights and responsibilities of the contracting entity and the healthcare provider, including provisions for the delivery and payment of healthcare services.

Furthermore, the bill prohibits contracting entities from including all-products clauses in healthcare contracts, which would require providers to participate in multiple networks or plans. Exceptions are made for contracts covering multiple health benefit plans with the same financial terms. The bill also allows healthcare providers to opt out of provisions granting third-party access to their contracts and ensures that insurers cannot terminate relationships with providers for exercising this right. This legislation aims to enhance transparency and fairness in healthcare contracting practices in Arkansas.