Finances

(A) All Licensed or Approved Providers shall keep and maintain an accurate record of the finances of the facility in accordance with state requirements and its bylaws which demonstrates the Licensed or Approved Provider's financial capacity to operate the facility for the licensing period. Such records shall include an annual operating budget with documentation of approval by its governing body. (B) All Licensed or Approved Providers shall establish written policies and procedures for all fiscal operations, including fee arrangements with patients or residents, provided that the Licensed or Approved Provider shall provide services to patients or residents with public health insurance on a nondiscriminatory basis. In the event of patient or resident nonpayment, prior to moving to discharge the patient or resident, the provider shall: (1) make reasonable efforts to secure payment from a third-party payment source; and (2) offer a reasonable payment plan which takes into account the patient's or resident's income and resources.