Virginia Administrative Code › Title 12 - HEALTH › Agency 5 - DEPARTMENT OF HEALTH › Chapter 215 - RULES AND REGULATIONS GOVERNING HEALTH DATA REPORTING › Part III - Filing Requirements and Fee Structure › Section 12VAC5-215-50 - Annual historical filing

Current through Register Vol. 40, No. 24, July 15, 2024
Each individual health care institution shall submit an
					 annual historical filing of revenues, expenses, other income, other outlays,
					 assets and liabilities, units of service, and related statistics as prescribed
					 in § 9-158 (Repealed) of the Code of Virginia on forms provided by the
					 board together with unconsolidated certified audited financial statements. If
					 the health care institution is part of a publicly held company, the individual
					 institution may submit unconsolidated unaudited financial statements.
					 Investor-owned institutions organized as proprietorships, partnerships, or
					 S-corporations that impute income tax on the annual historical filing report an
					 imputed income tax based on the maximum tax rates for federal and state income.
					 The combined rate for 1989 is equal to 34% for individuals and 40% for
					 corporations. Operating losses may be carried forward no more than five years
					 but may not be carried back to prior years. The schedule of imputed income
					 taxes shall be reported as a note to the financial statements or as a
					 supplemental schedule of the certified audited financial statements submitted
					 to the board by the institution. The annual historical filing and the
					 unconsolidated certified audited financial statement shall be received by the
					 board no later than 120 days after the end of the respective applicable health
					 care institution's fiscal year. The requirement for the submission of an annual
					 historical filing and an unconsolidated certified audited financial statement
					 may be waived if a health care institution can show that an extenuating
					 circumstance exists. Requests for a waiver must be submitted in writing prior
					 to the due date. Examples of an extenuating circumstance include, but are not
					 limited to, involvement by the institution in a bankruptcy proceeding, closure
					 of the institution, change of ownership of the institution, or the institution
					 is a new facility that has recently opened.
Each health care institution with licensed nursing home
					 beds or certified nursing facility beds shall exclude all revenues, expenses,
					 other income, other outlays, assets and liabilities, units of service and
					 related statistics directly associated with a hospital, continuing care
					 retirement community, or with adult care residence beds in the annual report
					 filed with the board. For those health care institutions that participate in
					 either the Medicare or Medicaid program, the cost allocation methodology
					 required by the Virginia Department of Medical Assistance Services and Medicare
					 for cost reports submitted to it shall be utilized for filings submitted to the
					 board. Any health care institution that does not participate in the Medicare or
					 Medicaid program may develop and utilize an alternative methodology to
					 determine the nursing home portion of its costs if it chooses not to utilize
					 the cost allocation methodology used by the Department of Medical Assistance
					 Services and Medicare. That methodology shall then be approved by the board and
					 the health care institution must continue to utilize that methodology for all
					 subsequent filings unless a subsequent change is approved by the
					 board.
Statutory Authority
§§ 32.1-12 and 32.1-276.2 et seq. of the Code
						of Virginia.