N.J. Admin. Code § 8:31B-3.17

Current through Register Vol. 56, No. 11, June 3, 2024

Section 8:31B-3.17 - Financial elements reporting; audit adjustments

(a) The audited aggregate current cost data base is developed from financial elements reported to the Department and includes:

1. Costs related to patient care (as defined in 8:31B-4.32 );

2. Less net income from specified sources (as defined in 8:31B-3.25 ); and

3. Capital facilities costs: capital cash requirements (as defined in N. J.A.C. 8:31B-4.21).

(b) All reported financial information shall be reconciled by the hospital to the hospital's audited financial statement. In addition, having given adequate notice to the hospital, the Department may perform a cursory or detailed on-site review at the Department's discretion of all financial information and statistics to verify consistent reporting of data and extraordinary variations in data relating to the development of the current cost base. Any adjustments made subsequent to the financial review (including Medicare and Medicaid audits and Department reviews) shall be brought to the attention of the Commissioner by the hospital, the Department, appropriate fiscal intermediary, or payer where appropriate and shall be applied proportionately to the cost base.

(c) Hospitals shall submit a complete list of exceptions to the proposed audit adjustments, together with appropriate written documentation, within 60 days of receipt of the Department's written summary of these adjustments, or these adjustments shall be implemented in accordance with (b) above. Consideration shall be given only to documentation submitted in accordance with this schedule.

N.J. Admin. Code § 8:31B-3.17

Amended by 50 N.J.R. 1494(a), effective 7/2/2018