State of Michigan Nursing Home Administrator Exam

State of Michigan Nursing Home Administrator Exam PATIENT TRUST FUNDS - ANSWER1) Policy: - ANSWER-Must have a policy. May state that the facility will not handle monies in excess of $5,000.00. The facility may charge a reasonable fee not to exceed the ACTUAL COST of providing service. 2) Required Printed Information: - ANSWER-This must be given resident upon admission. A statement that the facility will handle personnal funds if no other person is available. Periodic statement of accounts (Minimum: Quarterly) 3) Procedure: American Institute of CPA - ANSWER-Quarterly statements including all activity, (A-H) in easily readable form. Written account of all personal funds held in trust must be sent to the executor, administrator, rep payee or next of kin within 10 DAYS OF THE DEATH OF A PATIENT. Account must be closed and b