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The Health Over Wealth Act amends the Public Health Service Act to establish transparency and reporting requirements for for-profit corporations that own or control health care entities, particularly those owned by private equity funds. Covered firms must report detailed financial, operational, and ownership information to the Secretary of Health and Human Services, including debt levels, fees, political spending, staffing data, and executive compensation. The Secretary is required to make this data publicly available, conduct audits, and submit annual reports to Congress analyzing trends related to ownership type and its impact on health care access, quality, and patient safety.
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