The Health Care Clinical Independence and Transaction Transparency Act is designed to protect the clinical judgment of licensed physicians and dentists by preventing nonprofessional entities from exerting control over their decision-making processes. The bill defines "nonprofessional entity" as individuals or organizations not authorized to make medical or dental decisions and specifies that licensed professionals must maintain ultimate authority in areas such as diagnosis, treatment, and clinical staffing. While nonprofessional entities can manage nonclinical functions like accounting and marketing, they must not interfere with clinical judgment.

Additionally, the bill introduces transparency requirements for transactions involving professional practices and nonprofessional entities. It mandates that professional practices notify the Attorney General and the Commissioner of Health about significant transactions at least 60 days in advance, including details such as transaction value and involved parties. The legislation also allows for penalties for noncompliance and protects licensed professionals from retaliation when reporting violations. Overall, the act aims to ensure that clinical decisions remain with qualified professionals while enhancing transparency in healthcare transactions and establishing accountability measures for compliance.