Sec. 7. (a) The state department shall actively supervise and monitor a hospital operating under a certificate of public advantage issued under this chapter to ensure that the conduct of the hospital furthers the purposes of this chapter.

     (b) The holder of a certificate of public advantage shall pay the reasonable costs incurred by the state department to cover the reasonable costs of the ongoing monitoring and supervision of the certification, including any fees for consultants and experts.

     (c) A hospital operating under a certificate of public advantage may not increase the charge for each individual service the hospital offers by more than the increase in the preceding year‘s annual average of the Consumer Price Index for Medical Care as published by the federal Bureau of Labor Statistics.

     (d) For the first five (5) years that a hospital is operating under a certificate of public advantage the hospital must:

(1) invest the realized cost savings from the identified efficiencies and improvements included in the certificate of public advantage application in the areas of Indiana the hospital serves for the benefit of the community; and

(2) summarize the realized cost savings and investments in the hospital’s annual report submitted under section 8 of this chapter.

As added by P.L.104-2021, SEC.2. Amended by P.L.62-2022, SEC.8; P.L.143-2022, SEC.45.