Financial Benchmarks. The success of the Rhode Island Medicaid Managed Care program is contingent on the financial stability of participating Health/Dental plans. As part of its oversight activities, the State has established financial viability criteria, or benchmarks, to be used in measuring and tracking the fiscal status of Health/Dental plans. The Contractor must provide documentation on a regular basis as outlined in this contract that the Contractor is financially solvent, has the capital, and has the financial resources and management capability to operate under this risk-based contract. Contractor shall demonstrate to EOHHS that it is able to meet the solvency requirements set forth through the Rhode Island Office of the Health Insurance Commissioner (OHIC). Contractor agrees to at least annually provide EOHHS with the information necessary for calculating benchmark levels for each of the above financial benchmarks for its RIte Smiles line of business consistent with Section 2.16.C of this Agreement. Contractor also agrees to promptly and fully comply with any and all corrective actions ordered by the State to address any identified deficiencies with respect to financial benchmarks.
Financial Benchmarks. The success of the Rhode Island Medicaid managed care program is contingent on the financial stability of participating Health Plans. As part of its oversight activities, the State has established financial viability criteria, or benchmarks, to be used in measuring and tracking the fiscal status of Health Plans. The areas in which financial benchmarks have been established include the following: • Current ratio • Plan equity per enrollee • Administrative expenses as a percent of capitation • Net medical costs as a percent of capitation • XXXX and RBUC levels, including days claims outstanding Contractor agrees to provide the information necessary for calculating benchmark levels (see the following section). Contractor also agrees to comply with corrective actions ordered by the State to address any identified deficiencies with respect to financial benchmarks.
Financial Benchmarks. As of the Closing, the Company must have at least $500,000 in cash balances and accounts receivable minus accounts payable shall be not less than $1,220,000, subject in all respects to the provisions of Section 5.2.
Financial Benchmarks. Lessee shall at all times observe the following benchmarks (all computations and definitions being determined in accordance with generally accepted accounting principles). If a breach of any of the following benchmarks occurs, Lessor, at its option, may cause the remaining unamortized balance of the Purchase Price to be amortized over six (6) consecutive monthly installments, with the first such installment to be due on the next succeeding Base Rent payment date.
