The bill aims to establish a comprehensive health care entity registry in Washington to address the challenges of access and affordability in the state's evolving health care landscape. It highlights the significant consolidation and integration of health care providers and the increasing presence of for-profit entities, such as private equity firms, which have raised concerns about health care access. The lack of a complete and transparent registry has hindered the state's ability to evaluate the impact of these changes on health care access and affordability. The legislature intends to develop a plan and recommendations for creating this registry, which will facilitate monitoring and understanding of market trends.

To implement this, the bill mandates the Department of Health, in collaboration with various state offices and stakeholders, to create a plan that identifies the health care entities required to report, the information they must provide, and the fees associated with registration. The plan will also explore opportunities for streamlined reporting and information sharing among state agencies. A progress update is required by December 31, 2027, with a final report due by November 1, 2028, detailing any remaining data gaps and an implementation plan for the registry. Additionally, the bill stipulates that if specific funding for its purposes is not provided by June 30, 2025, the act will become null and void.