A Message to New Hampshire Licensed Health Care Providers Regarding Financial Reporting
The State of New Hampshire’s Department of Health and Human Services Office of Improvement and Integrity issued a letter to all licensed health care facilities on March 1, 2011 informing them of the financial reporting requirements effective January 1, 2011 under Administrative Rule He-C 1550 (see link below).
The letter, issued by the Office of Improvement Administrator Stephen J. Mosher, reminds facilities licensed under RSA 151:2 that financial data is required to be submitted to the Department by each health care facility receiving payments of $500,000 or more of state and/or federal funds in the previous fiscal year. The Administrative Rule also discusses what a health care facility should do if they are under the stated threshold.
Other important selected matters discussed in He-C 1550 are as follows:
- Deadlines for submission of financial data
- Submission of filed and settled Medicare and/or Medicaid cost reports
- Definition of Health Care Facility
- Definition of Financial Data
- Extension requests if an HCF in unable to meet a specific deadline
- Monetary penalties should an HCF be noncompliant
Please read the entire Administrative Rule He-C 1550 for full disclosure of the Department’s policy and compliance expectations.
If you have any questions regarding this requirement, please contact Baker Newman Noyes professionals at 1.800.244.7444.
Disclaimer of Liability: This publication is intended to provide general information to our clients and friends. It does not constitute accounting, tax, investment, or legal advice; nor is it intended to convey a thorough treatment of the subject matter.