Patient service revenues are to be reported net of estimated contractual adjustments (discounts) with Medicare, Medicade or insurance companies in the operating statement. Differences between the actual contractual adjustments and the amounts estimated are treated as changes in accounting estimate (and do not require restatement of prior periods.) Note disclosure is used to indicate methods of revenue recognition and description of the types of contractual adjustments.
Patient service revenues are to be reported net of estimated contractual adjustments (discounts) with Medicare, Medicade or insurance companies in the operating statement. Differences between the actual contractual adjustments and the amounts estimated are treated as changes in accounting estimate (and do not require restatement of prior periods.) Note disclosure is used to indicate methods of revenue recognition and description of the types of contractual adjustments.
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