The period to comment on an exposure draft of revisions to HFMA’s guidance on reporting charity care and bad debt will expire on May 26. HFMA’s Principles and Practices Board Statement No. 15, Valuation and Financial Statement Presentation of Charity Service and Bad Debts by Institutional Healthcare Providers, discusses key issues surrounding the valuation and reporting of charity care and bad debt, including the criteria for charity care; the valuation, recording, and disclosure of these two types of uncompensated care; and the classification of receipts relating to charity care. The updates in this exposure draft address current questions raised in relation to charity care reporting practices and also incorporate principles of HFMA’s PATIENT FRIENDLY BILLING® project. To download the draft and comment instructions, click here.
