HB5589

Illinois HB5589 mandates hospitals to submit financial resolution plans to ensure orderly operations during financial distress.

HB5589 requires hospitals to submit financial resolution plans to the Illinois Department of Public Health. These plans must include details on ownership, assets, liabilities, and continuity of care. The Department can suspend payments if hospitals fail to submit required information within 45 days. The bill also mandates quarterly financial and utilization data reporting, including inpatient days and discharges. Noncompliance can result in fines up to $500 per week. The Department is authorized to adopt emergency rules to implement these requirements.