Cost Reports Sample Clauses
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Cost Reports. OWNERS shall prepare and file or cause Current Manager to prepare and file with the appropriate Medicare and Medicaid agencies its final cost reports in respect to its operation of the Facilities as soon as reasonably practicable after the Closing Date, but in no event later than the date on which such final cost report is required to be filed by law under the terms of the Medicare and Medicaid Programs, and will provide the appropriate Medicare and Medicaid agencies with any information needed to support claims for reimbursement made by OWNERS either in said final cost report or in any cost reports filed for prior cost reporting periods, it being specifically understood and agreed that the intent and purpose of this provision is to ensure that the reimbursement paid to NEW OPERATORS after it becomes the licensed operator of the Facilities is not reduced or offset in any manner as a result of OWNERS’ failure to timely file such final cost reports or such supporting documentation with respect to any past reimbursement claims, including, but not limited to, those included in the final cost reports. OWNERS shall promptly, and in any case at least ten (10) days prior to filing, provide NEW OPERATORS with copies of such reports and supporting documentation. The parties acknowledge that 13 CSR §70-10.015(10)(E) sets forth certain provisions concerning a change in ownership of a provider certified for participation in the Medicaid Program, and that pursuant to 13 CSR §70-10.015(10)(E), the Kansas Department of Social Services, Division of Medical Services (“KMS”) will withhold certain Medicaid reimbursement amounts unless KMS receives assurances satisfactory to KMS that the final Medicaid cost report of OWNERS will be filed on a timely basis. To that end, the parties wish to provide KMS with such assurances satisfactory to KMS pursuant to 13 CSR §70-10.015(10)(E) and hereby agree to execute an agreement in the form of EXHIBIT B by and among OWNERS, NEW OPERATORS and KMS (“KMS Agreement”) and to file such Agreement with KMS or request a waiver of the closeout cost report pursuant to 13 CSR 70-10.015(10)(A)10.B(III).
Cost Reports. Transferor shall timely prepare and file with the appropriate Medicare and Medicaid agencies any final cost reports with respect to its operation of the Facility which are required to be filed by law under the terms of the Medicare and Medicaid Programs. New Operator acknowledges that Medicare Part A coinsurance receivables from dates of service prior to the Closing Date exist and agrees that to the extent the information is provided to the New Operator so that it may accurately reflect the information in the filing to (i) report any uncollectible amounts (i.e., “Medicare Bad Debts”) from the Transferor’s dates of service on its initial Medicare cost report and any subsequent cost reports if needed and (ii) if the New Operator receives payment on the Medicare Part A Bad Debts that are from the Transferors dates of service, the New Operator will reimburse the Transferor for these amounts at such time as the Transferor provides a schedule of the Medicare Bad Debts and supporting documentation to the New Operator.
Cost Reports. Existing Operator shall timely prepare and file with the appropriate Medicare and Medicaid agencies any final cost reports with respect to their operation of the Facility which are required to be filed by law under the terms of the Medicare and Medicaid Programs; provided, however, that Existing Operator shall not file its final cost reports until New Operator receives the Tie-In Notices. Existing Operator shall provide New Operator with copies of such cost reports, together with copies of any amendments thereto within three (3) business days of any such filing. If New Operator receives payment as a result of appeals, settlements, and retroactive Medicaid rate increases from a Governmental Authority relating to a period prior to the Closing Date, then New Operator shall promptly forward any such payment and any related reports or correspondence to Existing Operator.
Cost Reports. Seller, at its expense, shall prepare and timely file all terminating and other cost reports required or permitted by law to be filed under the Medicare and Medicaid or other third-party payor programs and the State Health Agency for periods ending on or prior to the Effective Time, or as a result of the consummation of the transactions described herein (“Seller Cost Reports”). In addition, ▇▇▇▇▇ shall assist Seller in providing certain information needed by Seller when preparing the terminating cost report, including but not limited to completion of Seller’s standard Hospitals data collection template, invoice and general ledger analysis, and other documentation historically prepared by the Hospitals for cost reporting purposes. If requested by the Seller Entities, the applicable Buyer Entity shall include the applicable Seller Entity’s Medicare bad debts that are returned from collection agencies subsequent to the Closing Date on the applicable Buyer Entity’s cost report for the respective period to which the Medicare bad debt relates. The Seller Entity shall provide detailed supporting information, as required by Medicare regulations, for the Medicare bad debt account amounts to be included on the Buyer Entity’s Medicare cost report. The applicable Buyer Entity shall forward to Seller any and all correspondence relating to the Seller Cost Reports within five (5) business days after receipt by such Buyer Entity. The applicable Buyer Entity shall remit any receipts of funds relating to the Seller Cost Reports promptly after receipt by such Buyer Entity and shall forward to Seller any demand for payments within three (3) business days after receipt by such Buyer Entity. Notwithstanding anything to the contrary in this Agreement, Seller shall retain all rights to the Seller Cost Reports including any amounts receivable or payable in respect of such reports or reserves relating to such reports and all liabilities relating thereto. Such rights shall include the right to appeal any Medicare or Medicaid determinations relating to the Seller Cost Reports. Seller shall retain the originals of the Seller Cost Reports, correspondence, work papers and other documents relating to the Seller Cost Reports. Seller will furnish copies of such cost reports to any Buyer Entity upon request.
Cost Reports. The Department will annually notify Provider of the cost report template to be used and provide instructions and a due date for submission in order for Provider to be eligible for an Interim Rate the next Rate Year.
Cost Reports. Prepare and file all applicable cost reports to all third-party payors, if any, to the extent required by any such third-party payor and, within thirty (30) days thereafter, notify the Administrative Agent of any settlement of any cost report disclosed to the Administrative Agent as being open or unsettled as of the Closing Date to the extent any such cost report would have a materially adverse effect on the Borrowers.
Cost Reports. Upon the request of Landlord and no more than once in each calendar year, Tenant shall furnish to Landlord complete and accurate copies of the most recent annual Medicaid and Medicare cost reports for the Facilities and any and all amendments filed with respect to such reports and all responses, audit reports or inquiries with respect to each such report.
Cost Reports. File, or cause to be filed, all Medicare and Medicaid cost reports that are required to be filed after the Closing Date, without regard to any extensions, pursuant to all applicable Legal Requirements. Any liability of Seller required to be paid as a result of any such cost report for any period prior to the Closing Date shall be paid by Seller. Purchaser shall cause any refund which may be received after the Closing Date as a result of any such cost report filed for any period prior to the Closing Date to be paid to Seller;
Cost Reports. Company and its Subsidiaries have timely filed or caused to be timely filed all cost reports required for the Company and its Subsidiaries by any Governmental Program (“Company Cost Reports”), and all Company Cost Reports were complete and accurate in all material respects when filed and were prepared and submitted in accordance with cost and accounting principles consistently applied and in compliance in all material respects with cost report filing requirements under Healthcare Laws. Except as disclosed on Schedule 4.25, Company Cost Reports do not claim, and the Company and its Subsidiaries have not received, payment or reimbursement in excess of the amount provided or allowed by Healthcare Laws, except where excess reimbursement was noted on the Company Cost Report and all amounts shown on Company Cost Reports as owed by the Company or its Subsidiaries have been paid timely. Schedule 4.25 lists Company Cost Reports duly filed by the Company and its Subsidiaries covering all open cost reporting periods prior to the Closing Date, identifies which of Company Cost Reports have been (i) audited but not fully settled, and (ii) neither audited nor settled, and describes any and all notices of program reimbursement, proposed or pending audit adjustments, disallowances, appeals of disallowances, and any and all other unresolved claims or disputes with respect to Company Cost Reports. Except as disclosed on Schedule 4.25, (A) there are no claims, actions or appeals pending before any Governmental Entity with respect to the Company Cost Reports, on or before the date of this Agreement, (B) the Company and its Subsidiaries have not received notice of any dispute and, the Company does not have Knowledge of the existence of any threatened dispute with any Governmental Entity regarding the Company Cost Reports. The Company’s Financial Statements reasonably reflect adequate reserves for all open and unsettled cost reporting periods in accordance with GAAP. Except as disclosed on Schedule 4.25, any home office cost reports filed by the Company are true and correct in all material respects and the costs contained in such cost reports are appropriately included therein and have been properly allocated among the Company and its Subsidiaries in accordance with Healthcare Laws.
Cost Reports. 64 Section 7.28