The Medical Corporation Accountability Act aims to enhance transparency and accountability in the healthcare sector by requiring hospitals to disclose their ownership structures and prohibiting interference from private equity and hedge funds in the professional judgment of healthcare providers. The Act mandates that starting January 1, 2026, hospitals receiving local or state funding must submit annual reports to the health care authority detailing their ownership, operational affiliations, and salary ranges for healthcare providers, as well as the total compensation of their chief executive officers. The health care authority is also tasked with compiling and reporting this information to the legislature annually.

Additionally, the Act explicitly prohibits private equity funds and hedge funds from interfering with healthcare providers' professional decisions, including treatment options and patient management. It restricts these funds from controlling aspects of healthcare delivery, such as hiring practices, medical record management, and billing procedures. The legislation aims to safeguard the integrity of medical practice by ensuring that financial interests do not compromise patient care.