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PATIENT ACCOUNTS POLICY Title: Charity Care Policy Number: PA 501 Effective Date: 08/12/2011 Revised Date: 11/8/2016, 7/30/2018 Review Date (no revisions): PURPOSE To provide, within reasonable limitations
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Charity care is the provision of healthcare services for free or at a reduced cost to individuals who are unable to pay. Financial statements are documents that provide information about the financial activities and position of an organization.
Hospitals and other healthcare providers are typically required to file charity care and financial statements.
Charity care and financial statements are typically filled out by a hospital's finance department or an external accounting firm.
The purpose of charity care and financial statements is to track and report on the provision of free or discounted healthcare services and to provide transparency into the financial health of an organization.
Information such as the amount of charity care provided, the number of patients served, and financial data such as revenue and expenses must be reported on charity care and financial statements.
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