The bill aims to establish a comprehensive health care entity registry in Washington State to address the challenges of access and affordability in the rapidly changing 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, particularly in rural areas. 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, as identified in various reports since 2010.

To create this registry, the bill mandates the Department of Health, in collaboration with several state offices and stakeholders, to develop a plan that outlines the health care entities required to report, the information they must provide, and the associated fees for registration. The plan must also consider streamlining reporting processes and understanding the business structures and funding of health care entities. The department is required to update the legislature on its progress by December 31, 2027, and submit a final report by November 1, 2028, detailing any remaining data gaps and implementation recommendations. Additionally, the bill stipulates that it will be null and void if specific funding is not provided by June 30, 2025.