The New Jersey Division of Consumer Affairs (DCA) will post the proposed rules regarding the annual financial audit/reporting requirements for health care service firms in the May 20th, 2024 NJ Register. In 2020, HCAOA was successful in obtaining a revision of the much more stringent and onerous financial reporting requirements that were initially passed in 2014 as part of the audit/accreditation bill. Although these current proposed rules establish a tiered process for reporting levels (based on annual revenue and the amount of public funds received), there still stands to be significant time and costs incurred to comply for all agencies. There will be an open comment period from May 20th through July 19th. It is imperative that ALL health care service firm owners/operators review the proposed rules once released and submit their comments during that period.
Your HCAOA NJ Chapter will provide members with suggested talking points to include in your comments. Stay tuned for more information.
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