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Telehealth

Trending in Telehealth: April 30 – May 6, 2024

by Patrick Zanayed and Casey Li | May 10, 2024 | Telehealth

Trending in Telehealth highlights state legislative and regulatory developments that impact the healthcare providers, telehealth and digital health companies, pharmacists and technology companies that deliver and facilitate the delivery of virtual care.

Trending in the past week:

Interstate compacts
Professional standards
Reimbursement requirements

A CLOSER LOOK

Finalized Legislation & Rulemaking

Iowa enacted HF 2402, which requires the Iowa Department of Health and Human Services to review and update its administrative rules regarding psychiatric medical institutions for children (PMICs), including the review of rules related to the use of telehealth services to conduct post-restraint and seclusion assessments.
Iowa enacted HF 2512, which adopts the Social Worker Licensure Compact.

Legislation & Rulemaking Activity in Proposal Phase

Highlights:

In Louisiana, HB 896 passed one chamber. This bill establishes the Louisiana Remote Patient Monitoring Program Law, which allows remote patient monitoring services provided through telehealth for patients who meet certain criteria as outlined in the bill.
In Connecticut, HB 5198 passed one chamber. If enacted, this bill would make permanent certain temporary expanded requirements for telehealth services. These expanded provisions include the following: allows authorized telehealth providers to use audio-only telephone to provide services, allows authorized providers to provide telehealth services from any location to patients at any location, prohibits providers from charging uninsured patients more than the Medicare reimbursement rate for telehealth services, and prohibits health carriers from reducing the amount of reimbursement they pay to telehealth providers for covered services provided through telehealth.
In Colorado, HB 24-1045 passed the second chamber. This bill adds substance use disorder treatment to the list of healthcare services required to be reimbursed at the same rate for telemedicine as comparable in-person services.
In Colorado, SB 24-141 passed one chamber. If enacted, this bill would allow a licensed out-of-state healthcare provider to provide telehealth services to patients located in Colorado if the provider registered with the appropriate regulator in Colorado.
In Hawaii, HCR 125 passed one chamber, which requests the establishment of a telehealth working group to examine the impact of widespread telehealth adoption during the COVID-19 pandemic and to identify public policy initiatives at the federal and state level to optimize telehealth utilization as the state transitions out.
Several states saw activity related to interstate compacts.
- Michigan HB 4169 passed one chamber, which would enact the occupational therapy licensure compact.
- In South Carolina, S 610 passed two chambers, which would enact the professional counseling compact.
- In Alabama, SB 208 passed two chambers, which would enact the Social Worker Compact.
In Nevada, the Board of Dental Examiners published a proposed rule that expands requirements related to teledentistry. This rule specifies the circumstances under which a licensed provider may provide teledentistry services, including issuing prescriptions.
In Kansas, the Board of Pharmacy proposed a rule that sets forth requirements to establish a telepharmacy outlet, as well as requirements for the personnel who would staff the telepharmacy outlet. This rule [...]

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Trending in Telehealth: April 23 – April 29, 2024

by Stacey Callaghan and Jayda Greco | May 3, 2024 | Telehealth

Trending in the past week:

Interstate compacts
Professional standards and licensure
Reimbursement requirements and payment parity

A CLOSER LOOK

Finalized Legislation & Rulemaking

Oklahoma enacted HB 3330, which would require every mental health professional who is renewing a behavioral health certification or license issued by a designated board to report certain information, including their use of telehealth.
Vermont enacted H 543, which adopts the Social Worker Licensure Compact.

Legislation & Rulemaking Activity in Proposal Phase

Highlights:

In Ohio, S 1074 passed the first chamber. If enacted, the bill would amend the supervision and delegation laws for physicians and physician assistants including adding the ability for both licensee types to . Some examples included in the bill are collecting specimens (e.g., urine or stool samples), point of care testing and screening and recording information. The bill does not specify any particular non-clinical tasks that would be particularly suited for telemedicine.
In Vermont, H 861 passed the first chamber. If enacted, the bill would provide for reimbursement parity for all medically necessary, clinically appropriate, delivered in-person, by telemedicine, and by audio-only telephone. Services covered under the bill would include services that are covered when provided in the home-by-home health agencies. The bill specifically provides that health insurance plans provide the same reimbursement rates for services billed using equivalent procedure codes and modifiers, subject to the terms of the health insurance plan and provider contract.
In Colorado, HB 24-1045 passed the first chamber. If enacted, the bill would add substance use disorder treatment to the list of healthcare services required to be reimbursed at the same rate for telemedicine as comparable in-person services.
Numerous states progressed legislation relating to the Social Worker Compact
- In Alabama, HB 318 passed the first chamber.
- In Iowa, HB 2512 passed both chambers
- In Ohio, SB 90 passed both chambers.
- In Louisiana, HB 888 passed the first chamber.

Why it matters:

States continue to increase activity surrounding licensure compacts for a variety of health professionals. These state efforts ease the burdens of the licensing process and demonstrate a desire to facilitate multijurisdictional practice without giving up authority over professional licensure. This week, the Social Work Compact saw increased activity.
States continue to amend and clarify professional practice standards for telehealth. With the increase in the delivery of care through virtual modalities, professional boards are adopting standards governing telehealth practice across multiple health professions and revising existing standards to reflect current technologies and practices, to ensure there is consistency across the professions. This week, we saw a particular emphasis on mental health professionals as it relates to Board reporting obligations, [...]

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Trending in Telehealth: April 16 – April 22, 2024

by Amanda Enyeart and Jayda Greco | Apr 23, 2024 | Telehealth

Trending in the past week:

Interstate compacts
Professional standards and licensure
Reimbursement requirements and payment parity

A CLOSER LOOK

Finalized Legislation & Rulemaking

Nevada’s Physical Therapy Board adopted a final rule which permits physical therapists to use telehealth in accordance with the provisions of Nevada’s general telehealth law (Rev. Stat. 629.515).
Nebraska enacted legislation, LB 932, which adopts the Social Worker Licensure Compact.

Legislation & Rulemaking Activity in Proposal Phase

Highlights:

In Illinois, HB 5087 passed the first chamber. The bill provides that physical therapy through telehealth services may be used to address access issues to care, enhance care delivery or increase the physical therapist’s ability to assess and direct the patient’s performance in the patient’s own environment. It also provides that a physical therapist or a physical therapist assistant working under the general supervision of a physical therapist may provide physical therapy through telehealth services pursuant to the terms and use defined in the Telehealth Act and the Illinois Insurance Code under specified conditions.
In Tennessee, SB 1862 and mirroring HB 1863 passed the second chamber. The bill would adopt the Dietician Licensure Compact.
In Minnesota, SF 4399 passed the second chamber. The bill specifies that subject to federal approval, substance use disorder services that are otherwise covered by the state’s Medicaid program as direct face-to-face services may be provided via telehealth as defined in section 256B.0625, subdivision 3b. The use of telehealth to deliver services must be medically appropriate to the condition and needs of the person being served. Reimbursement shall be at the same rates and under the same conditions that would otherwise apply to direct face-to-face services.
In Ohio, proposed rules by the Chemical Dependency Professionals Board would provide guidance regarding the ethics and professional conduct of practice for certificate holders and licensees overseen by the Chemical Dependency Board, which includes chemical dependency counselor assistants, licensed chemical dependency counselors and licensed independent chemical dependency counselors, when using telehealth.

Why it matters:

States continue to amend and clarify professional practice standards for telehealth. With the increase in the delivery of care through virtual modalities, professional boards are adopting standards governing telehealth practice across multiple health professions and revising existing standards to reflect current technologies and practices to ensure there is consistency across the professions. This week, we saw a particular emphasis in practice standards impacting physical therapists and substance use disorder professionals who provide services via telehealth.
States continue to evaluate reimbursement standards as they relate to delivery of care provided via telehealth. State efforts, such as the bill in Minnesota (highlighted above), help to promote access to telehealth by giving patients a choice to seek telehealth [...]

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Trending in Telehealth: April 9 – April 15, 2024

by Dale C. Van Demark and Jayda Greco | Apr 22, 2024 | Telehealth

Trending in the past week:

Interstate compacts
Professional standards and licensure
Reimbursement requirements and payment parity

A CLOSER LOOK

Finalized Legislation & Rulemaking

Michigan enacted a final rule that outlines telehealth practice standards including consent to telehealth, referrals to in-person providers (when needed), delegation of prescribing of controlled substances to advanced practice registered nurses, training standards related to human trafficking, licensure and continuing education.
Delaware enacted a final rule related to social work practice. The amendments change the requirements for direct supervision in post-degree supervised clinical social work experience for licensure applicants to specify that supervision may be through 100% live video conferencing at the discretion of the supervisor. Telehealth requirements are revised to exempt individuals practicing through a Delaware interstate telehealth registration from the prerequisite that the individual hold a Delaware license.
Tennessee enacted SB 1674, which directs the bureau of TennCare to – no later than December 31, 2024 – amend existing rules, or promulgate new rules, on fee-for-service and Medicaid managed care plans regarding reimbursement (specifically, to allow for the reimbursement of remote ultrasound procedures and remote fetal nonstress tests using established CPT codes for such procedures when the patient is in a residence or other off-site location that is separate from the patient’s provider and meets the same standard of care).

Legislation & Rulemaking Activity in Proposal Phase

Highlights:

In New Jersey, A 2803 passed the first chamber. If enacted, the bill would authorize certain out-of-state healthcare professionals and recent graduates of healthcare training programs to practice in the state upon application for licensure/certification in the state, but before such license is granted.
In Texas, HB 1771 passed one chamber. If enacted, the bill would require that each agency with regulatory authority over a health professional providing a telemedicine medical service, teledentistry or telehealth adopt rules necessary to standardize formats for and retention of records related to a patient’s consent to: (i) treatment, (ii) data collection and (iii) data sharing.
In Minnesota, SF 4399 passed both chambers. If enacted, the bill would provide that, subject to federal approval, substance use disorder services that are otherwise covered as direct face-to-face services may be provided via telehealth as defined in section 256B.0625, subdivision 3b. The use of telehealth to deliver services would need to be medically appropriate to the condition and needs of the person being served. Reimbursement would be at the same rates and under the same conditions that would otherwise apply to direct face-to-face services.
In Alabama, SB 207 passed one chamber. If enacted, the bill would adopt the dietitian licensure compact. In Tennessee, HB 1863 (paired with SB 1862) also passed one chamber, and if enacted, would [...]

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Trending in Telehealth: April 2 – April 8, 2024

by Amanda Enyeart and Jayda Greco | Apr 12, 2024 | Telehealth

Trending in the past week:

Interstate compacts
Professional standards and supervision requirements
Reimbursement requirements

A CLOSER LOOK

Finalized Legislation & Rulemaking

Arizona enacted SB 1173, enacting the counseling compact.
Mississippi enacted SB 2157 (mentioned in last week’s post) adopting the Psychology Interjurisdictional Compact.
Kentucky enacted both bills mentioned in last week’s blog post:
SB 255 establishes requirements and standards for the provision of social work services via telehealth.
SB 111: Requires health benefit plans, limited health service benefit plans, Medicaid and state health plans to provide coverage for speech therapy provided in person or via telehealth.
West Virginia also enacted rulemaking pertaining to the practice of licensed dietitians. Specifically, the rulemaking established procedures for the practice of telehealth by licensed dietitians. The rule provides for relevant telehealth definitions, licensure standards, establishing a practitioner-provider relationship solely via telehealth and standards of telehealth practice (e.g., consent, identify verification, standards for confidentiality, etc.).
Arizona enacted rulemaking, applicable to the Medicaid program, which requires the Arizona Department of Health Services (Department) to allow a healthcare provider who is not licensed in Arizona to provide telehealth services to a client located in Arizona if the healthcare provider registers with the Department and pays a registration fee. Providers who register with the Department must maintain a statutory agent for service of process in the state and ensure the provider’s professional liability insurance policy includes coverage for telehealth services provided to clients in Arizona, among other requirements.

Legislation & Rulemaking Activity in Proposal Phase

Highlights:

Wyoming enacted emergency rulemaking which provides that a physician or physician assistant who has established a provider-patient relationship in another state with a patient who is a resident of Wyoming may provide continued care to the patient via telehealth without a Wyoming physician or physician assistant license subject to the following:
(i) The provider-patient relationship must have been established in an in-person encounter in a state in which the physician or physician assistant is licensed;
(ii) Subsequent care may be provided to the patient via telehealth while the patient is in Wyoming if the care is a logical and expected continuation of the care provided in an in-person encounter in the state where the physician or physician assistant is licensed. If the patient is presenting with new medical conditions, or conditions that the standard of care dictates an in-person encounter is needed, patient must either return to the state in which the physician or physician assistant is licensed for care or must be referred to a Wyoming-licensed healthcare provider.
(iii) The telehealth care may continue for up to six months after the establishment of the provider-patient relationship in another state, after which an in-person encounter must take place in a jurisdiction where the physician or physician assistant is [...]

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Trending in Telehealth: March 26 – April 1, 2024

by Amanda Enyeart and Jayda Greco | Apr 2, 2024 | Telehealth

Trending in the past week:

Interstate compacts
Reimbursement requirements
Professional standards

A CLOSER LOOK

Finalized Legislation & Rulemaking

West Virginia enacted SB 522, which specifies that an emergency medical services agency may triage and transport a patient to a destination other than a hospital, dialysis center, skilled nursing facility or residence within the state or treat the patient in place if the ambulance service is coordinating the care of the patient through medical command or telehealth services. The bill also requires insurance plans to provide coverage for those services. SB 522 further requires the West Virginia Office of Emergency Medical Services to establish related protocols by October 1, 2024.
West Virginia also enacted rulemaking pertaining to the practice of medical imaging and radiation therapy technologists. The rulemaking includes a provision stating that telehealth practice is inapplicable to the practice of a medical imaging and radiation therapy technologist.
Maine enacted LD 1965, which provides telehealth standards for optometrists, including requirements for establishing an optometrist-patient relationship via telemedicine. While the bill establishes new flexibilities to allow for telehealth and provides relevant practice standards and definitions for telehealth practice, it also includes limiting language requiring either an in-person visit or an established relationship with the patient.
- For example, an optometrist-patient relationship is established when an individual agrees to receive ocular or healthcare services from the licensee and there has been an in-person encounter between the licensee and the individual, unless the standard of care requires that an individual be seen without an in-person visit, such as in an emergent situation as reasonably determined by the licensee.
- The bill also provides a pathway for an optometrist-patient relationship in which a licensee who uses telehealth in providing care and a patient who receives telehealth services through consultation with another licensee or other healthcare provider and who has an established relationship agrees to participate in, or supervise, the patient’s care through telehealth.

Legislation & Rulemaking Activity in Proposal Phase

Highlights:

Three states – Kansas, Tennessee and Colorado – either introduced or progressed legislation relating to the Social Work Licensure Compact.
- In Kansas, SB 2484 passed both chambers.
- In Tennessee, HB 2405 also passed both chambers.
- In Colorado, SB 24-1002 passed the first chamber.
In Arizona, SB 1173 passed both chambers. If enacted, the bill would adopt the Counseling Compact.
In Mississippi, SB 2157 passed the second chamber. If enacted, the bill would adopt the Psychology Interjurisdictional Compact.
In Tennessee, JB 2587 passed the second chamber. If enacted, the bill would revise the state’s insurance code to remove from the definition of “provider-based telemedicine” the requirement that [...]

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Trending in Telehealth: March 19 – March 25, 2024

by Stacey Callaghan and Nathan Gray | Mar 26, 2024 | Telehealth

Trending in the past week:

Behavioral Health
Licensure Compacts
Telehealth Practice Requirements

A CLOSER LOOK

Finalized Legislation and Rulemaking:

Florida enacted SB 7016, which, among other things, enters Florida into the Interstate Medical Licensure Compact, the Physical Therapy Compact, and the Audiology and Speech-Language Pathology Compact.
In Utah, HB 365 was enacted. This act allows physicians, nurse practitioners and physician assistants to conduct initial consults for certain cosmetic procedures via telemedicine, including cryolipolysis (i.e. the removal of fat deposits using cold temperatures) and certain cosmetic laser treatments. Telemedicine consults would not be permitted for hair removal or tattoo removal treatments.
Washington enacted HB 1939 to enter the Social Work Licensure Compact.
In Washington, SB 5481 was also enacted. This act establishes professional practice standards for healthcare practitioners that provide telehealth services and establishes requirements for out-of-state health care practitioners.
Washington also passed SB 5821, which amends existing standards for establishing a provider-patient relationship related to audio-only coverage requirements. The act defines an established relationship to include a provider of audio-only telemedicine who has, among other things, seen the patient in-person or through real-time interactive audio and video technology at least once in the last three years or an audio-only provider to whom the patient was referred by a physician who had seen the patient, in-person or through real-time interactive audio and video technology, at least once in the past three years.
Wisconsin enacted SB 476, which prohibits the Wisconsin Medicaid program from requiring that telehealth providers have a physical address in the state.

Legislation & Rulemaking Activity in Proposal Phase:

Highlights:

In Alaska, SB 91 passed the first chamber. The bill would permit an out-of-state member of a physician’s multidisciplinary care team to provide services in Alaska via telehealth if the service provided by the out-of-state member is not reasonably available in the state or it involves ongoing treatment or follow-up care regarding a suspected or diagnosed life-threatening condition. The bill would also establish grounds for disciplinary action against an out-of-state member of a physician’s multidisciplinary care team.
In Georgia, HB 441 passed both chambers. If enacted, the bill would, among other things, require a dentist intending to provide care via teledentristry to notify the Georgia Board of Dentistry and to provide documentation that the dentist has established a referral relationship with a dentist capable of providing in-person dental care at a location within the state meeting certain geographic requirements. A dentist providing teledentistry would be permitted to authorize dental hygienists to perform certain dental hygiene functions, prescribe noncontrolled prescriptions and authorize the performance of digital scans and the transmission of patient records to the dentist. The proposed bill would require dentists to perform an initial in-person examination and an in-person exam at least once [...]

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Trending in Telehealth: March 12 – March 18, 2024

by Patrick Zanayed and Nathan Gray | Mar 19, 2024 | Telehealth

Trending in the past week:

Expanding Telehealth
Telehealth Practice Requirements

A CLOSER LOOK

Finalized Legislation and Rulemaking:

Indiana enacted SB 132, which removes the requirement that out-of-state providers licensed in Indiana and their employer/contractor file a certification to be subject to Indiana jurisdiction and laws with the Indiana Professional Licensing Agency before providing telehealth services in Indiana. Providers would still be subject to Indiana jurisdiction and substantive and procedural law.
In Indiana, SB 104 was also enacted, which requires veterinarians and veterinary technicians to disclose certain information when renewing a license or registration certificate including whether services are provided via telehealth.
New Hampshire adopted a final rule, which includes amendments to describe the initial application process, qualifications, renewals and audits for psychologists. It also clarifies requirements for a tele-pass license for psychologists.
Utah enacted HB 44, which enters Utah into the Social Work Licensure Compact.
Utah enacted HB 145, which permits veterinarians to supervise veterinary technicians via telehealth. Previously, veterinarians were only permitted to supervise state-certified veterinarian technicians via telehealth.

Legislation & Rulemaking Activity in Proposal Phase:

Highlights:

In Maryland, HB 1078 passed the first chamber. The bill would require the state Medicaid program to provide ultrasound procedures and remote fetal nonstress tests in certain circumstances.
In Wisconsin, SB 823 passed the first chamber. This bill would require out-of-state practitioners to register with the Department of Safety and Professional Services or an applicable Wisconsin credentialing board to provide telehealth services in Wisconsin.
In Kentucky, HB 829 passed the first chamber. This bill, among other things, would require a patient or designated caregiver to complete a consultation with an authorized pharmacist prior to purchasing medical cannabis and would require the patient to complete the consultation annually. The bill includes an exception to the consultation requirement for visiting qualified patients presenting a valid out-of-state registry identification card and proof of diagnosis of a qualifying condition. It provides that the consultation may be completed via telehealth and establishes a process for pharmacists to become authorized to provide medical cannabis consultations.
In Michigan, a proposed rule would require chiropractors to obtain consent from patients before providing telehealth services, maintain proof of consent in patient’s medical record and require chiropractors to exercise the same standard of care applicable to in-person service when providing service via telehealth.
In Nevada, a proposed rule would establish provisions related to teledentistry, including requiring dentists to collect a digital form of written consent for a patient, specify recording keeping requirements for teledentistry and establish standards for collaborations with other providers.
In Texas, a proposed rule would permit physical therapists providing services to students with disabilities in the educational setting to perform certain examinations via telehealth by removing the onsite examination requirement.
In [...]

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Trending in Telehealth: March 5 – March 11, 2024

by Stacey Callaghan and Nathan Gray | Mar 12, 2024 | Telehealth

Trending in the past week:

Interstate compacts
Expanding Telehealth

A CLOSER LOOK

Finalized Legislation and Rulemaking:

In South Carolina, the governor signed H 4159, the South Carolina Telehealth and Telemedicine Modernization Act, which establishes uniform baseline standards for all professionals licensed by a licensing board in the state providing services via telehealth. The act also revises the provisions of the Medical Practice Act related to telehealth, including addressing ongoing telehealth treatment provided by an out-of-state physician not licensed in South Carolina, as well as implementing standards for licensees solely providing services via telehealth (including evaluation, recordkeeping, follow-up care and prescribing standards).

Legislation & Rulemaking Activity in Proposal Phase:

Highlights:

In Arizona, SB 1267 passed the first chamber. If enacted, the bill would permit physical therapists to supervise physical therapy assistants through certain telehealth modalities.
In Colorado, HB 24-1048 passed both chambers. If enacted, the bill would specify that an in-person, physical examination of an animal is required to establish a veterinarian-client-patient relationship and would extend that relationship to other licensed veterinarians who share the same physical premises if those other veterinarians have access to and have reviewed the patient’s records. It would also permit veterinarians, with consent of the client, to provide veterinary services—including prescribing medication—via telemedicine to clients and patients located in Colorado with an established veterinarian-client-patient relationship. The bill establishes recording-keeping, confidentiality, and privacy requirements related to the use of telehealth and empowers the Colorado State Board of Veterinary Medicine to issue rules further regulating the use of telehealth. It also permits a license veterinarian to utilize tele-supervision of veterinary personnel if certain conditions are met.
In Hawaii, HB 2079 passed the first chamber. If enacted, this bill would, among other things, allow a practitioner who is licensed in Hawaii to prescribe schedule III and IV controlled substances, including testosterone, for the purpose of providing gender-affirming care while the practitioner is located outside the State and without conducting an in-person consultation with the patient, provided that the practitioner prescribes the controlled substances via a synchronous audio-visual telehealth interaction.
In Idaho, HB 684 passed the first chamber. If enacted, the bill would permit telebehavioral health services to be provided on public school premises.
In Kentucky, SB 111 passed the first chamber. If enacted, the bill would require health benefit plans, limited health service benefit plans, Medicaid, and state health plans to provide coverage for speech therapy provided via telehealth.
In Kentucky, SB 255 passed the first chamber. If enacted, the bill would establish requirements and standards for providing social work services via telehealth.
In Mississippi, HB 177 and SB 2157 both passed the first chamber. If enacted, these bills would enter Mississippi into the Dietician Licensure Compact and the Psychology Interjurisdictional [...]

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Corporate Transparency Act: Key Considerations for Virtual Care Providers

by Lisa Mazur, Stacey Callaghan and Grayson Dimick | Mar 12, 2024 | Telehealth

As of January 1, 2024, the US Corporate Transparency Act (CTA) requires corporations, limited liability companies, limited partnerships and other similar entities to disclose beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN), a bureau within the US Department of the Treasury. Although the US District Court for the Northern District of Alabama declared the CTA unconstitutional in March 2024, the decision in the underlying case is limited to the plaintiff. Therefore, all other entities – including virtual care providers – are still required to comply with the CTA.

Following are key considerations for virtual care providers utilizing friendly PC structures.

Are professional entities (i.e., PCs, PLLCs, PAs) subject to CTA reporting requirements? Yes. The CTA includes certain exemptions, but these are unlikely to apply to a professional entity formed to provide virtual care services.
To whom do CTA reporting requirements apply? The reporting obligation is on the reporting company (i.e., the entity formed by a filing in a US state) – not on the beneficial owners or the person or entity assisting with the formation of the reporting company (i.e., the company applicant, defined as the individual who directly files the document that forms the reporting company and the individual who is primarily responsible for directing or controlling such filing if more than one individual is involved in the filing, with no more than two company applicants). However, individuals and entities other than the reporting company can be held liable for willful violations of the CTA (e.g., an individual who willfully fails to report complete beneficial ownership information or an individual who files – or causes the filer to file – false information with FinCEN).
What reporting is required? The reporting company must visit FinCEN’s Beneficial Ownership Information (BOI) website to complete and file a beneficial ownership information report (BOIR). Reporting companies formed before January 1, 2024, have until January 1, 2025, to file a BOIR; those formed during 2024 must file a BOIR within 90 calendar days of the effective date of formation; and those formed on or after January 1, 2025, will have 30 calendar days to file a BOIR.
Who are beneficial owners? Are friendly physician owners beneficial owners? Reporting companies must identify each of their beneficial owners, defined as any individual who, directly or indirectly, exercises substantial control over the reporting company or who owns or controls at least 25% of the ownership interests in a reporting company. Individuals with substantial control include senior officers (e.g., president, chief executive officer, chief operating officer, chief financial officer and general counsel), as well as anyone who can make important decisions on behalf of the reporting company, including the power to appoint and remove senior officers or a majority of the board of directors (or similar governing body). Accordingly, friendly physician owners are likely to be beneficial owners.
What information must be reported in a BOIR? Reporting companies must provide the following information:

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