CHANGES IN REIMBURSEMENT. In the event there is a change in any payor reimbursement or contract (including the loss thereof) that could cause (1) decrease in total operating revenue equal to or greater than three percent (3%) of the total operating revenue or (2) net income less than zero, Borrower commits to report to HUD its assessment of the impact of the change within thirty (30) days following the enactment of such changes. Borrower shall take appropriate actions to mitigate such changes, including expense curtailments and revenue increases. Borrower shall submit its plan of action, as approved by the Board, to HUD within sixty (60) days of the report to HUD, referred to above. HUD, as part of its normal oversight, will monitor Xxxxxxxx’s financial performance and may request a plan or report pursuant to Section 19 . The purpose of these actions would be to assure that Xxxxxxxx will continue to serve the health needs of its community and meet its obligations under the terms of the Loan Documents and Program Obligations.
CHANGES IN REIMBURSEMENT. If Medicare, Medicaid, Blue Shield or any other third party payor, or any other Federal, state or local laws, rules, regulations or interpretations, at any time during the term of this Agreement, prohibit, restrict or in any way materially and adversely change the method or amount of reimbursement or payment for services rendered by Practice pursuant to this Agreement or of the method of compensation for either party provided for in this Agreement, then the parties shall amend this Agreement to provide for payment of compensation in a manner consistent with any such prohibition, restriction or limitation and which takes into account any materially adverse change in reimbursement or payment from such third party payors for such physician services, provided such amendments are consistent with the overall economic and other objectives of the parties set forth in this Agreement.
CHANGES IN REIMBURSEMENT. If Medicare, Medicaid, Blue Shield or any other third party payor, or any other Federal, state or local laws, rules, regulations or interpretations, at any time during the term of this Agreement, prohibit, restrict or in any way materially and adversely change the method or amount of reimbursement or payment for services rendered by Practice pursuant to this Agreement or of the method of compensation for either party provided for in this Agreement, then the parties shall use commercially reasonable efforts to amend this Agreement to provide for payment of compensation in a manner consistent with any such prohibition, restriction or limitation and which takes into account any materially adverse change in reimbursement or payment from such third party payors for such physician services, provided such amendments are consistent with the overall economic and other objectives of the parties set forth in this Agreement.
CHANGES IN REIMBURSEMENT. If Medicare, Medicaid, Blue Cross/Blue Shield or any other third party payor, or any other Federal, state or local laws, rules, regulations or interpretations, at any time during the term of this Agreement, prohibit, restrict or in any way materially and adversely change the method or amount of reimbursement or payment for services rendered by Practice pursuant to this Agreement or of the method of compensation for either party provided for in this Agreement, then the parties shall in good faith consider any amendment of this Agreement proposed by the other to provide for payment of compensation in a manner consistent with any such prohibition, restriction or limitation and which takes into account any materially adverse change, provided such amendments are consistent with the overall economic and other objectives of the parties set forth in this Agreement. Notwithstanding the foregoing, in the event the management fee payable to Manager hereunder in accordance with Section 1.6(g) is found to be unlawful for any reason, the Parties agree that at Manager's election exercisable by written notice to Practice the management fee payable to Manager as a Practice Expense under Section 1.6(g) of this Agreement shall be computed at a base rate of $85,000 per annum for each physician employed by Practice (whether as an employee or independent contractor), such base rate to be increased annually commencing as of January 1, 1999 in a percentage amount equal to the percentage change in "CPIn" (as defined below) as compared to "CPIo" (as defined below), but in no event shall such management fee as so computed in any year exceed 12.5% of Net Practice Revenues. For purposes hereof, "CPIn" is the Historical Consumer Price Index, most recently published as final by the Bureau of Labor Statistics, U.S. Department of Labor, For All Urban Consumers, [Miami/Ft. Lauderdale, Florida], All Items, Annual Average 1982-84 = 100 ("CPI") as of each new calendar year commencing January 1, 1999; and "CPIo" is the CPI published as of the date which is one (1) year prior to the date of CPIn which was used for such calculation. Upon any such notice from Manager, Section 1.6(g) shall be deemed amended in accordance with the preceding sentence effective for the period specified by Manager in any such notice. One-twelfth (1/12) of said annual management fee amount shall be retained monthly by Manager and shall be a Practice Expense under this Agreement.
CHANGES IN REIMBURSEMENT. 31 14.7 MODIFICATIONS...................................................................................31 14.8 NO RULE OF CONSTRUCTION.........................................................................32 14.9 COUNTERPARTS....................................................................................32 14.10 BINDING EFFECT.................................................................................32 14.11
CHANGES IN REIMBURSEMENT. If Medicare, Medicaid, Blue Cross/Blue Shield or any other third party payor, or any other Federal, state or local laws, rules, regulations or interpretations, at any time during the term of this Agreement, prohibit, restrict or in any way materially and adversely change the method or amount of reimbursement or payment for services rendered by Practice pursuant to this Agreement or of the method of compensation for either party provided for in this Agreement, then the parties shall in good faith consider any amendment of this Agreement proposed by the other to provide for payment of compensation in a manner consistent with any such prohibition, restriction or limitation and which takes into account any materially adverse change, provided such amendments are consistent with the overall economic and other objectives of the parties set forth in this Agreement.
CHANGES IN REIMBURSEMENT. 25 b. Enactment or Interpretation of Relevant Statutes and Regulations........25 c. Renegotiation...........................................................25 4.
CHANGES IN REIMBURSEMENT. In the event that any third party payor, or any other Federal, state or local laws, rules, regulations or interpretations, at any time during the Term, prohibit, restrict or in any way materially and adversely change the method or amount of reimbursement or compensation for either party provided for in this Agreement, then the parties shall negotiate in good faith to amend this Agreement to provide for payment of compensation in a manner consistent with any prohibition, restriction or limitation and which takes into account any materially adverse change in reimbursement or payment for physician services. If the parties cannot reach agreement on an amendment prior to the effective date of the change, this Agreement shall not terminate but the matter shall be resolved as set forth in Section 9 below.
CHANGES IN REIMBURSEMENT. Acknowledging that a substantial portion of the Program's services will be reimbursed under the Medicare and Medi-Cal programs and that a substantial portion of the Hospital's services are reimbursed under the Medicare and Medi-Cal programs, the parties agree that this Agreement is terminable by either party effective upon any changes in the Medicare or Medi-Cal laws, regulations and/or payment programs which substantially and adversely affect either party, including but not limited to changes in Hospital's reimbursement for Program services; provided, however, the parties agree to negotiate diligently and in good faith to revise this Agreement to eliminate the substantial and adverse effect caused by such change(s).
CHANGES IN REIMBURSEMENT. In the event there is a change in any payor reimbursement or contract (including the loss thereof) that could cause (1) a loss decrease in total operating revenuefrom operations equal to or greater than three percent (3%) of the total operating revenue or, (2) net income less than zero, or (3) a significant negative impact on the hospital’s financial performance, as determined by HUD, Borrower commits to report to HUD its assessment of the impact of the change within thirty (30) days following the enactment of such changes. Borrower shall take appropriate actions to mitigate any significant negative impacts of such changes, including executing a Board approved plan of expense curtailments and revenue increases. Borrower shall submit its plan of action, as approved by the Board, to HUD within sixty (60) days of theof the report to HUD, referred to above. HUD, as part of its normal oversight, will monitor Xxxxxxxx’s financial performance and may request a plan or report pursuant to a Business Plan/Consultant’s Report under the circumstances outlined in Section 19 (Business Plan/Consultant’s Report) in this Agreement. The purpose of these actions would be to assure that Xxxxxxxx will continue to serve the health needs of its community and meet its obligations under the terms of the Loan Documents and Program Obligations.
