MN ADC 9505.2180

Financial Records

As a condition for payment under a medical assistance program such as Medicaid, the provider or vendor must maintain financial records, including written and electronic data that includes the following:

1. Payroll ledgers or accounting records;
2. Contracts for services or supplies that relate to the vendor’s costs and billing to a medical assistance program;
3. Vendor’s charges to patients;
4. Evidence of claims for reimbursement, payments or denials resulting from claims submitted to a third party;
5. Vendor’s appointment book;
6. Billing transmittal forms;
7. Records showing all ownership interests in the vendor;
8. Employee records for current and past employees from the last five years;
9. Delivery tracking information;

Long term facilities require additional financial records to be kept, including all of those stated above as well as purchase invoices and records of funds deposited and taken out from patients’ residential fund accounts.