Hospital Ambulatory Services Reimbursement Reform Act

Hospital Ambulatory Services Reimbursement Reform Act - Amends title XVIII (Medicare) and title XIX (Medicaid) of the Social Security Act to reimburse financially distressed hospitals for community service costs incurred in providing covered outpatient services to certain poor and uninsured individuals.

Sets forth the method of determining community service costs and the method of apportioning the costs to the program.

Requires the State in which a financially distressed hospital is located to submit an application to the Secretary of Health and Human Services on behalf of such hospital in order for the hospital to participate in the reimbursement program. Sets forth a description of the data necessary to be included in the application.

Sets forth the criteria for approval of the application. Allows the State to submit a revised application if the first application is disapproved. Limits the duration of an approved application to one year. Permits the Secretary to request that a hospital, for which a renewal application has been made, make certain changes.

Limits the amount of additional reimbursement for any hospital to the combined net deficit in the operation of the outpatient department and emergency room.

Establishes a National Advisory Council on Hospital Financing Stabilization and Reorganization, to be composed of nine persons appointed by the Secretary, to: (1) advise the Secretary with regard to the implementation of this Act; (2) review applications submitted pursuant to this Act; and (3) monitor and evaluate certain practices of hospitals receiving reimbursement under this Act.