SPRINGFIELD – As private-equity backed hospital systems increasingly threaten access to care, a new law spearheaded by State Senator Omar Aquino will provide meaningful oversight of hospital ownership changes and services discontinuations.
“Across the country, we have seen it time and time again: private equity firms buying hospitals, slashing services, laying off health care workers or shuttering the facility all together,” said Aquino (D-Chicago). “When hospitals are treated as financial assets, it poses a serious risk to our state’s health care infrastructure. With this law, Illinois is stepping in to provide stronger oversight and safeguard access to services our communities depend on.”
House Bill 4757 will expand the authority of the Health Facilities and Services Review Board, which is responsible for regulating the planning, construction and operation of health care facilities in Illinois.
Under the new law, the board may grant, deny or defer an application for a permit allowing a change in ownership or discontinue a category of service. The law will also strengthen transparency and accountability by creating greater opportunities for residents, patients and local stakeholders to participate in public hearings regarding approved permits.
“Hospitals are community pillars that people of all stages of life depend on daily,” said Aquino. “Families rely on them for emergency care, routine check-ups, child birth, managing a chronic illness and countless other essential services. Illinoisans deserve confidence that these institutions are dependable and focused on serving patients.”
House Bill 4757 was signed into law Friday and goes into effect Jan. 1, 2027.
