Failure to Credit Interest to Resident Personal Funds Accounts
Penalty
Summary
The facility failed to credit interest earned to the personal funds accounts of 30 residents, both current and discharged, whose funds were held in an interest-bearing account managed by the facility. Review of clinical records, facility documentation, and interviews revealed that from April 2024 to May 2025, no interest was applied to individual resident accounts, as required by federal regulation. The Director of Revenue identified that the process for applying interest was manual and attributed the failure to a lack of proper training for the Business Manager responsible for managing resident personal fund accounts. Additionally, the facility's Personal Needs Account Policy and Procedure did not include guidance on the application of interest to resident accounts.