California’s Hospital Diversity Act: Assembly Bill 962
And What You Need to Know
SPECIAL REPORT |
Authored by Vasquez & Co. LLP
Governor Newsom signed Assembly Bill 962 (AB-962): The Hospital Supplier Diversity Act. This bill sheds light on the degree to which the state's hospital sector contracts with and outreaches to diverse business for various goods and services.
Who does AB 962 apply to? California hospitals with operating costs of at least $50 million, or half that amount ($25 million) if they are part of a system of hospitals.
What is required? Annual reports submitted to the Office of Statewide Health Planning and Development on the hospital's diverse procurement efforts, supplier diversity policy statement, as well as outreach and communications with minority owned business and other DBEs.
When is this due? The first report must be submitted by July 1, 2021 and submitted annually thereafter. By July 31, 2021 the Office of Statewide Health Planning and Development shall establish and maintain a link on the office's website that provides public access to the contents of each hospital's report.
Download full AB 962 bill text here.
Call us at +1 213.873.1700, email us at email@example.com or fill out the form below and we'll contact you to discuss your specific situation.
Vasquez & Company is one of the largest minority-owned CPA firms in the state of California with offices in Los Angeles, San Diego, Sacramento, and Manila.
Vasquez & Company, LLP Areas of Specialization:
- Assurance (Audits and Attestation Services)
- Advisory Services
- Business Outsourcing Solutions
- Information Technology
- Tax & Tax Consulting
Vasquez & Company LLP is a proud member of the RSM US Alliance, a premier affiliation of independent accounting and consulting firms in the United States. RSM US Alliance provides our firm with access to resources of RSM US LLP, the leading provider of audit, tax and consulting services focused on the middle market. RSM US LLP is a licensed CPA firm and the U.S. member of RSM International, a global network of independent audit, tax and consulting firms with more than 43,000 people in over 120 countries.
Our membership in RSM US Alliance has elevated our capabilities in the marketplace, helping to differentiate our firm from the competition while allowing us to maintain our independence and entrepreneurial culture. We have access to a valuable peer network of like-sized firms as well as a broad range of tools, expertise and technical resources.
For more information on how Vasquez & Company LLP can assist you, please call +1 213.873.1700.
Subscribe to receive important updates from our Insights and Resources.