Section 2.11 - Physician Ownership Interests(1)Physician Ownership in a For-profit Acute Care Hospital or HMO. As required by M.G.L. c. 112, § 5M, a licensee shall report to the Board that he or she has an ownership interest in a for-profit acute care hospital, as defined in M.G.L. c. 111, § 25B, or a for-profit health maintenance organization, as defined in M.G.L. c. 111, § 25B. The licensee shall report to the Board the percentage of ownership interest he or she holds in relation to the total ownership interest in the for-profit entity. (a) The licensee shall make an initial report of ownership interest to the Board within 30 days of acquiring such ownership interest.(b) After the initial report, the licensee shall report the existence of the ownership interest and the ownership percentage biennially during the license renewal process.(c) The licensee shall report a material change in his or her ownership interest to the Board within 30 days of the change.(d) A licensee shall report to the Board when he or she ceases to have an ownership interest, within 30 days of ceasing to have an ownership interest.(2)Physician Ownership Interest in Facilities Providing Physical Therapy Services. A licensee shall report to the Board that he or she has an ownership interest in physical therapy services, pursuant to M.G.L. c. 112, § 12AA. (a) The initial report shall be made to the Board within 30 days of acquiring the ownership interest. A sample of the blank written referral form must be submitted to the Board.(b) After the initial report, the licensee shall report his or her ownership interest biennially during the licensee's renewal process.(c) When there is a change in the information provided in 243 CMR 2.07, including a change to the patient referral form, the licensee shall report the change to the Board within 30 days of the change, and send a copy of the new referral form to the Board.(d)Disclosure to Patient. A licensee who refers a patient for physical therapy services to an entity in which he or she has a financial ownership interest, as defined in M.G.L. c. 112, § 12AA, shall do the following: 1. The licensee shall disclose his or her financial ownership interest to the patient.2. The licensee shall provide the patient with a written referral that informs the patient that physical therapy services may be available from other physical therapists in the community. The referral notice shall conspicuously contain the following language: "The referring registered or licensed person maintains an ownership interest in the facility to which you are being referred for physical therapy. Physical therapy services may be available elsewhere in the community."3. The licensee shall disclose his or her ownership interest with the Board, along with a copy of a blank written referral notice given to patients.(e)Maintaining a Referral List. Any licensee who refers a patient for physical therapy services to any partnership, corporation, firm or other legal entity in which he or she has an ownership interest shall maintain a list of any such referrals. A licensee shall make this list available to the Board for inspection at the Board's request.(3)Extensions for Good Cause. The Chair of the Board or his or her designee may approve a written request for an extension of the time period required for notification, provided that the basis for such request demonstrates good cause.(4)Ownership Interest. Ownership Interest shall mean any and all ownership interest, including but not limited to any membership, proprietary interest, stock interest, partnership interest, co-ownership in any form or any profit-sharing arrangement. Ownership interest shall not apply to any financial arrangements between a health maintenance organization licensed under M.G.L. c. 176G or a preferred provider arrangement organized under M.G.L. c. 176I and its participating providers. Ownership interest shall not apply to financial arrangements among participating providers of such health maintenance organization or such preferred provider arrangement.(5)Statutory Report. Reports under 243 CMR 2.11 are mandated reports under 243 CMR 2.13 and 2.14 and shall be reported to the Data Repository.Amended by Mass Register Issue 1397, eff. 8/9/2019.