Massachusetts lawmakers pass bill to boost health care market transparency [Video]

BOSTON — The Massachusetts Legislature approved a bill Monday aimed at closing loopholes in the state’s health care market regulatory process exposed by the collapse of Steward Health Care.

The bill is also designed to increase financial transparency by gathering more information about hospital finances and assist in maintaining a more stable and sustainable health care system, according to legislature supporters.

The measure would bolster the reporting authority of the state’s Center for Health Analysis and Information and the scope of the oversight of the Health Policy Commission by adding reporting requirements for hospitals.

The bill would boost penalties for not complying with the new proposed data reporting requirements, including increasing and removing the cap on financial penalties.

“As we stare down a health care system plagued by high costs and the …