2003-253P. - Laserfiche WebLink

Home Browse Search

- - - - - - - - - - - ' emorl I HospitalInc. and Subsidiaries Indian River M p , Notes to Consolidated Financial Statements For the Years Ended September 30 , 2002 and 20D1 rBond Issuance Costs Bond issuance costs are deferred and amortized to operations over the term of the relaxed financing agreement using the effective interest method Net Patient Service Revenue Net patient service revenue is recorded on an accrual basis of accounting which provides for recognition of revenue at established rates as service is provided. The Hospital has agreements with third party payors that provide for payments to the - -_ Hospital at amounts different from its established rates. Payment arrangements include prospectively determined rates -per discharge, reimbursed cost, discounted charges and per diem payments. Net patient service revenue is reported at the estimated net realizable amounts from patients, third-party payors and others for services rendered, including 1 estimated retroactive adjustments under reimbursement agreements with third-party payors. Retroactive adjustments are accrued on an estimated basis in the period the related services are rendered and adjusted in fixture periods as final settlements are determined. Temporarily and Permanent) Restricted Net Assets . Temp y Y Temporarily restricted net assets are those whose use by the Hospital has -been limited by - donors to a specific time period or-purpose. Permanently restricted net assets have been - restricted by donors to be maintained by the Hospital in perpetuity. _ (Deficit) Excess of Revenues Over Expenses The consolidated statements of operations includes (deficit) excess of revenues over expenses: Changes in unrestricted net assets which are excluded from (deficit) excess of - revenues over expenses, consistent with industry practice, include changes in unrealized gains and losses on other than trading securities and -net assets released from restrictions used for the purchase of property and equipment. ! Charity Care The Hospital provides care to patients who meet certain criteria under its charity care policies without charge or at amounts less than established rates . Because the Hospital does not - pursue collection of amounts determined to qualify as charity care, these amounts are not reported as revenue. Under contractual agreements, the District reimburses the Hospital for a. portion of its qualified charity care. Reimbursement is classified as other revenue in the accompanying consolidated financial statements .