Subchapter C. FINANCIAL REPORTING REQUIREMENTS
Sec.
912.61. Annual audited financial statements.
912.62. Quarterly summary utilization and financial reports.
912.63. Medicare cost reports and Medical Assistance Form 336.§ 912.61. Annual audited financial statements.
(a) For fiscal years beginning January 1, 1988, and thereafter, a hospital and ambulatory service facility providing covered services shall file annual audited financial statements within 120 days after the close of the fiscal year.
(b) The financial statements shall be certified by an independent certified public accountant who shall render an opinion that the statements have been prepared in accordance with generally accepted accounting principles, and on the financial position, results of operations and changes in financial positions of the hospital as of and for the period then ended.
(c) The certified annual statements shall contain the following:
(1) A balance sheet detailing the assets, liabilities and net worth of the hospital or ambulatory service facility.
(2) A statement of revenue and expenses that fully discloses deductions from revenue according to contractual adjustments and other deductions.
(3) A statement of changes in financial position.
(4) Footnotes to financial statements.
(d) If more than one health care facility is operated by the reporting organization, the information required by this section shall be reported for each health care facility separately.
Source The provisions of this § 912.61 adopted January 29, 1988, effective January 30, 1988, 18 Pa.B. 459.
§ 912.62. Quarterly summary utilization and financial reports.
(a) A hospital and ambulatory care facility providing covered services shall compile data following instructions on report format HC-87-Q1 beginning May 1, 1988.
(b) Quarterly summary utilization and financial reports, due 45 days following each quarter, shall be sent to the Council beginning with the first quarter of 1988. Report formats shall follow the instructions and Form HC-87-Q1.
Source The provisions of this § 912.62 adopted January 29, 1988, effective January 30, 1988, 18 Pa.B. 459.
§ 912.63. Medicare cost reports and Medical Assistance Form 336.
(a) A provider is required to submit to the Council a copy of its Medicare cost report and Medical Assistance Form 336 at the time they are due to the Department of Welfare or the Health Care Financing Administration or within 120 days of the close of its fiscal year reporting period.
(b) A provider is required to submit the settled Medicare cost report and certified MA 336 Form within 30 days of the final settlement.
Source The provisions of this § 912.63 adopted January 29, 1988, effective January 30, 1988, 18 Pa.B. 459.
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