Bill H.71 seeks to strengthen the oversight of health care entity transactions in Vermont by requiring these entities to notify the Green Mountain Care Board and the Attorney General at least 180 days prior to any material change transaction, such as acquisitions or mergers. The Green Mountain Care Board, in consultation with the Attorney General, will review these transactions and has the authority to approve, conditionally approve, or disapprove them based on various factors, including potential impacts on health care costs and accessibility. The bill also emphasizes public reporting on ownership and control of health care entities, mandates the posting of public notices about transactions, and establishes a comprehensive review process that must be completed within 90 days for significant transactions.

Additionally, the bill introduces provisions to protect the autonomy of health care providers by prohibiting corporations from practicing medicine or interfering with clinical decision-making. It allows medical practices to transfer control over their operations without compromising clinical independence, provided they have a shareholder agreement among physician shareholders. The legislation also prohibits noncompetition agreements and certain nondisclosure agreements, ensuring that clinical care remains independent. Health care entities will be required to report detailed ownership information to the Green Mountain Care Board every two years, with penalties for noncompliance, and the provisions are set to take effect on July 1, 2025. Overall, the bill aims to enhance transparency, accountability, and oversight within the health care sector in Vermont.