New Jersey Republican Gov. Chris Christie has conditionally vetoed (pdf) Senate Bill 782, which would have required New Jersey for-profit hospitals to disclose their financial records publicly on the state Department of Health website.
Gov. Christie recommended that Mary O'Dowd, commissioner of the Department of Health, undertake a six-month review of the existing hospital financial reporting requirements for for-profit hospitals and find the potential impact of the bill. At the end of the review, Ms. O'Dowd is to make recommendations on how the hospital data could be made publicly available more effectively.
"Any change where the state interjects itself into private business raises important issues that should be responsibility and cautiously evaluated," Gov. Christie said in his veto.
S782, sponsored by New Jersey Senate Majority Leader Loretta Weinberg (D-Bergen), would have required for-profit hospitals to post several areas of their finances and balance sheet, similar to the Form 990 non-profit hospitals must submit to the Internal Revenue Service. The hospitals would have had to disclose audited financial statements for the past three years, a list of all payments for goods or services and compensation of the top executives and boards members, among other areas.
Gov. Christie recommended that Mary O'Dowd, commissioner of the Department of Health, undertake a six-month review of the existing hospital financial reporting requirements for for-profit hospitals and find the potential impact of the bill. At the end of the review, Ms. O'Dowd is to make recommendations on how the hospital data could be made publicly available more effectively.
"Any change where the state interjects itself into private business raises important issues that should be responsibility and cautiously evaluated," Gov. Christie said in his veto.
S782, sponsored by New Jersey Senate Majority Leader Loretta Weinberg (D-Bergen), would have required for-profit hospitals to post several areas of their finances and balance sheet, similar to the Form 990 non-profit hospitals must submit to the Internal Revenue Service. The hospitals would have had to disclose audited financial statements for the past three years, a list of all payments for goods or services and compensation of the top executives and boards members, among other areas.
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