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. The bill also emphasizes public reporting on ownership and control of health care entities, mandates public notices about transactions, and establishes a comprehensive review process that includes public hearings and cost impact analyses.

Additionally, the bill introduces new regulations to prevent corporations from practicing medicine and interfering with health care providers' clinical decision-making. It prohibits noncompetition agreements and certain nondisclosure agreements between employed licensees and their employers, ensuring that medical professionals maintain autonomy in their practice. Health care entities are required to report ownership and control information to the Green Mountain Care Board every two years, enhancing transparency while allowing exemptions for small independent providers. The act is set to take effect on July 1, 2025.