On April 5, Tennessee Gov. Bill Haslam signed a new law that requires predictability in health plan and healthcare provider contracts, according to Lebanon Democrat.
Here are five takeaways:
1. Both Tennessee General Assembly state chambers passed the Provider Stability Act unanimously.
2. Sen. Bo Watson, R-Hixson, and Rep. Cameron Sexton, R-Crossville, sponsored the bill.
3. The act requires payers to offer providers a 60-day notice of altered reimbursement rates, if those rate changes are due to a payer-implemented policy change.
4. The Provider Stability Act caps fee schedule changes to one time per 12-month period, with a 90-day notice of changes.
5. The Tennessee Medical Association backs this legislation, which exists in no other state.