Illinois SB3916 mandates hospitals to submit financial resolution plans and quarterly financial reports to the Department of Public Health.
Illinois SB3916 requires hospitals to submit financial resolution plans to the Department of Public Health for orderly resolution of finances and operations in case of financial distress. These plans must include details such as organizational charts, asset descriptions, and continuity of care plans. Additionally, hospitals must report quarterly financial and utilization data, including inpatient and outpatient statistics, revenues, and expenses. The Department of Healthcare and Family Services can suspend payments if hospitals fail to submit required information within 45 days.
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