Under Securities and Exchange Commission rules that go into effect July 3, healthcare providers with bonds outstanding have a continuing obligation to disclose annual financial and operating information as well as any "material events" that would affect bondholders. (Aug. 15, 1994, p. 45).
To help providers comply with the rules, the Healthcare Financial Management Association and the National Council of Health Facilities Finance Authorities have released new guidelines that "provide a framework for what should be disclosed, when it should be disclosed and to whom."
The disclosure guidelines are based on recommendations of a task force representing investment bankers, state finance authorities, the HFMA and the health facilities council, which represents the nation's bond-issuing agencies.
HFMA members may obtain a copy by calling 1-800-252-4362, ext. 420.