SA 1 to SB 213

This Amendment does all of the following: (1) Exempts long-term acute care hospitals from the budget submission and review procedures adopted in the Hospital Budget Review Act, House Substitute No. 2 to House Bill No. 350 (152nd General Assembly). (2) Makes technical corrections to lines 52 through 54 of this Act to clarify the intent to require hospitals to report expenditures, revenues, and other financial information for the most recently completed fiscal year to the Diamond State Hospital Cost Review Board, redlined against the fiscal year immediately preceding it. This is consistent with the structure of this Act and reflects the intent of the parties who negotiated the term sheet reflected in this Act. (3) Requires the hospital’s chief executive officer to attest in writing that the hospital is not in breach of any material provision of, has not received a waiver of any penalties during the term of, and the penalties and risk provisions of the Meaningful Cost Containment Arrangement have not been modified during the term of the Meaningful Cost Containment Arrangement. (4) Requires the hospital to report to the Board any breach, receipt of a waiver of any penalty under, or negotiation of new terms of the Meaningful Cost Containment Arrangement during an applicable benchmark compliance year. (5) Makes a technical correction to line 124 of this Act to correct grammar in the existing law.