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Risk-based auditing Risk-based auditing is a style of auditing which focuses upon the analysis and management of risk.\nIn the UK, the 1999 Turnbull Report on corporate governance required directors to provide a statement to shareholders of the significant risks to the business.
Arithmetic Arithmetic (from Ancient Greek ἀριθμός (arithmós) 'number', and τική [τέχνη] (tikḗ [tékhnē]) 'art, craft') is an elementary part of mathematics that consists of the study of the properties of the traditional operations on numbers—addition, subtraction, multiplication, division, exponentiation, and extraction of roots. In the 19th century, Italian mathematician Giuseppe Peano formalized arithmetic with his Peano axioms, which are highly important to the field of mathematical logic today.
Decline of newspapers The decline of newspapers has been debated, as the industry has faced slumping ad sales, the loss of much classified advertising and precipitous drops in circulation. In recent years, newspapers' weekday circulation has fallen 7% and Sunday circulation 4% in the United States, their greatest declines since 2010.
Silk Road (marketplace) Silk Road was an online black market and the first modern darknet market. As part of the dark web, it was operated as a Tor hidden service, such that online users were able to browse it anonymously and securely without potential traffic monitoring.
Generally Accepted Accounting Practice (UK) Generally Accepted Accounting Practice in the UK, or UK GAAP, is the overall body of regulation establishing how company accounts must be prepared in the United Kingdom. Company accounts must also be prepared in accordance with applicable company law (for UK companies, the Companies Act 2006; for companies in the Channel Islands and the Isle of Man, companies law applicable to those jurisdictions).
Demelza Hospice Care for Children Demelza Hospice Care for Children is a Children's hospice and a registered charity (no. 1039561) based in Kent, England, providing palliative, respite, end-of-life and bereavement care to life-limited children and young adults, and their families.
Executive (government) The executive (short for executive branch or executive power) is the part of government that enforces law, and has responsibility for the governance of a state.\nIn political systems based on the principle of separation of powers, authority is distributed among several branches (executive, legislative, judicial)—an attempt to prevent the concentration of power in the hands of a single group of people.
Time limit A time limit or deadline is a narrow field of time, or a particular point in time, by which an objective or task must be accomplished. Once that time has passed, the item may be considered overdue (e.g., for work projects or school assignments).
Designated Player Rule The Designated Player Rule, nicknamed the Beckham Rule, allows Major League Soccer franchises to sign up to three players that would be considered outside their salary cap (either by offering the player higher wages or by paying a transfer fee for the player). The rule, which was adopted ahead of the 2007 MLS season, enables teams to compete for star players in the international soccer market.
Picosecond A picosecond (abbreviated as ps) is a unit of time formed by the prefix pico- and the SI unit second, equal to 10−12 or 1⁄1 000 000 000 000 (one trillionth) of a second. That is one trillionth, or one millionth of one millionth of a second, or 0.000 000 000 001 seconds.
Summerland (2020 film) Summerland is a 2020 British drama film written and directed by Jessica Swale, starring Gemma Arterton, Gugu Mbatha-Raw, Lucas Bond, Dixie Egerickx, Siân Phillips, Penelope Wilton and Tom Courtenay.\nArterton plays as a reclusive writer who is forced to take in a young boy entrusted to her care during the Battle of Britain in 1940, and later, during the early days of the London Blitz.
Indemnity In contract law, indemnity is a contractual obligation of one party (indemnifier) to compensate the loss incurred to the other party (indemnity holder) due to the acts of the indemnitor or any other party. The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless".
High-resolution computed tomography High-resolution computed tomography (HRCT) is a type of computed tomography (CT) with specific techniques to enhance image resolution. It is used in the diagnosis of various health problems, though most commonly for lung disease, by assessing the lung parenchyma.
Swish (payment) Swish (Swedish pronunciation: [swɪʂː] or [svɪʂː]) is a mobile payment system in Sweden. The service was launched in 2012 by six large Swedish banks, in cooperation with Bankgirot and the Central Bank of Sweden.
2017 in American television The following is a list of events affecting American television in 2017. Events listed include television show debuts, finales, and cancellations; channel launches, closures, and re-brandings; stations changing or adding their network affiliations; and information about controversies and carriage disputes.
Facility management Facility management, or facilities management, (FM) is a professional management discipline focused on the efficient and effective delivery of logistics and other support services related to real property, it encompasses multiple disciplines to ensure functionality, comfort, safety and efficiency of the built environment by integrating people, place, process and technology, as defined by the International Organization for Standardization (ISO). The profession is certified through Global Facility Management Association (Global FM) member organizations.
Diver certification A Diving certification or C-card is a document (usually a wallet sized plastic card) recognizing that an individual or organization authorized to do so, "certifies" that the bearer has completed a course of training as required by the agency issuing the card. This is assumed to represent a defined level of skill and knowledge in underwater diving.
Russian Maritime Register of Shipping The Russian Maritime Register of Shipping (RS) maintains a ship register of the Russian Federation, based in Saint Petersburg, and is a marine classification society. Its activities aim to enhance safety of navigation, safety of life at sea, security of ships, safe carriage of cargo, environmental safety of ships, prevention of pollution from ships, and performance of authorisations issued by maritime administrations and customers.
Perfusionist A cardiovascular perfusionist, clinical perfusionist or perfusiologist, and occasionally a cardiopulmonary bypass doctor or clinical perfusion scientist, is a healthcare professional who operates the cardiopulmonary bypass machine (heart–lung machine) during cardiac surgery and other surgeries that require cardiopulmonary bypass to manage the patient's physiological status. As a member of the cardiovascular surgical team, the perfusionist also known as the clinical perfusionist helps maintain blood flow to the body's tissues as well as regulate levels of oxygen and carbon dioxide in the blood, using a heart–lung machine.
Jamaica ginger Jamaica ginger extract, known in the United States by the slang name Jake, was a late 19th-century patent medicine that provided a convenient way to obtain alcohol during the era of Prohibition, since it contained approximately 70% to 80% ethanol by weight. In the 1930s, a large number of users of Jamaica ginger were afflicted with a paralysis of the hands and feet that quickly became known as Jamaica ginger paralysis or jake paralysis.
Christmas Interpretations Christmas Interpretations is the first Christmas album and second overall album by American R&B group Boyz II Men. It was released on October 5, 1993, by Motown.
Government agencies in Sweden The government agencies in Sweden are state-controlled organizations that act independently to carry out the policies of the Government of Sweden. The ministries are relatively small and merely policy-making organizations, allowed to monitor the agencies and preparing decision and policy papers for the government as a collective body to decide upon.
Erotic sexual denial Erotic sexual denial is the practice of refraining from sexual experiences in order to increase erotic arousal and/or tension. The prohibited experience can be narrowly or broadly defined and banned for a specific or indeterminate length of time depending on the practitioner.
Global Analyst Research Settlements The Global Analyst Research Settlement was an enforcement agreement reached in the United States on April 28, 2003, between the United States Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (NASD), New York Stock Exchange (NYSE), and ten of the United States's largest investment firms to address issues of conflict of interest within their businesses in relation to recommendations made by financial analyst departments of those firms.\n\n\n== Decision ==\nThe central issue at hand that had been judged in court was the conflict of interest between the investment banking and analysis departments of ten of the largest investment firms in the United States.
Income Tax Department The Income Tax Department (also referred to as IT Department or ITD) is a government agency undertaking direct tax collection of the Government of India. It functions under the Department of Revenue of the Ministry of Finance.
Emergency management Emergency management, also called emergency response or disaster management, is the organization and management of the resources and responsibilities for dealing with all humanitarian aspects of emergencies (prevention, preparedness, response, mitigation, and recovery). The aim is to prevent and reduce the harmful effects of all hazards, including disasters.
Good Environmental Status Good Environmental Status is a qualitative description of the state of the seas that the European Union's Marine Strategy Framework Directive requires its Member States to achieve or maintain by the year 2020. \nGood Environmental Status is described by 11 Descriptors:\n\nDescriptor 1.
Vice-President of the Civil Division The Vice-President of the Civil Division is a Court of Appeal Judge who assists the Master of the Rolls in leading the Civil Division of the Court of Appeal of England and Wales. The power to appoint a vice-president was created by the Senior Courts Act 1981, but was not exercised until Lord Phillips of Worth Matravers was appointed Master of the Rolls in 2000.
Permanent representative A permanent representative is a diplomat who is the head of a country’s diplomatic mission to an international organisation.Organizations that receive permanent representatives from their member states include the United Nations, the World Trade Organization, NATO, the European Union, the African Union, the Organisation of Islamic Cooperation, and the Organization of American States. Permanent representatives can be sent to subunits or field offices of an organization.
Permanent makeup Permanent makeup is a cosmetic technique which employs tattoos (permanent pigmentation of the dermis) as a means of producing designs that resemble makeup, such as eyelining and other permanent enhancing colors to the skin of the face, lips, and eyelids. It is also used to produce artificial eyebrows, particularly in people who have lost them as a consequence of old age, disease, such as alopecia totalis, chemotherapy, or a genetic disturbance, and to disguise scars and hypopigmentation in the skin such as in vitiligo.
Authorization for Use of Military Force Against Iraq Resolution of 2002 The Authorization for Use of Military Force Against Iraq Resolution of 2002, informally known as the Iraq Resolution, is a joint resolution passed by the United States Congress in October 2002 as Public Law No. 107-243, authorizing the use of the United States Armed Forces against Saddam Hussein's Iraq government in what would be known as Operation Iraqi Freedom.
EU–UK Trade and Cooperation Agreement The EU–UK Trade and Cooperation Agreement (TCA) is a free trade agreement signed on 30 December 2020, between the European Union (EU), the European Atomic Energy Community (Euratom), and the United Kingdom (UK). It provisionally applied from 1 January 2021, when the Brexit transition period ended, before formally entering into force on 1 May 2021, after the ratification processes on both sides were completed: the UK Parliament ratified on 30 December 2020; the European Parliament and the Council of the European Union ratified in late April 2021.The agreement, which governs the relationship between the EU and the UK after Brexit, was concluded after eight months of negotiations.
Pereiaslav Agreement The Pereiaslav Agreement (Ukrainian: Перея́славська рáда, romanized: Pereiaslavska Rada, lit. 'Pereiaslav Council', Russian: Переясла́вская рáда), was an official meeting that convened for ceremonial pledge of allegiance by Cossacks to the Tsar of Russia in the town of Pereiaslav, in central Ukraine, in January 1654. The ceremony took place concurrently with ongoing negotiations that started on the initiative of Hetman Bohdan Khmelnytsky to address the issue of the Cossack Hetmanate with the ongoing Khmelnytsky Uprising against the Polish–Lithuanian Commonwealth and which concluded the Treaty of Pereiaslav (also known as the March Articles).
Intercontinental Exchange The Intercontinental Exchange (ICE) is an American company formed in 2000 that operates global financial exchanges, clearing houses and provides mortgage technology, data and listing services. Listed on the Fortune 500, S&P 500, and Russell 1000, the company owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces.
Risk Factors
ODYSSEY HEALTHCARE INC Item 1A Risk Factors An investment in our common stock is subject to the significant risks inherent in our business
As such, you should consider carefully the risks and uncertainties described below and the other information included in this Annual Report on Form 10-K The occurrence of any of the events described below could have a material adverse effect on our business
Additional risks and uncertainties that we do not presently know or that we currently consider immaterial may also impair our business operations
If any of the following risks occur, it could cause the trading price of our common stock to decline, perhaps significantly
We are highly dependent on payments from Medicare and Medicaid
If there are changes in the rates or methods governing these payments for our services, our net patient service revenue and profits could materially decline
We are highly dependent on payments from Medicare and Medicaid
Approximately 96dtta9prca, 96dtta6prca and 97dtta0prca of our net patient service revenue for 2003, 2004 and 2005, respectively, consisted of payments, paid primarily on a per diem basis, from the Medicare and Medicaid programs
Because we generally receive fixed payments for our hospice care services based on the level of care provided to our hospice patients, we are at risk for the cost of services provided to our hospice patients
Reductions in amounts paid by government programs for our services or changes in methods or regulations governing payments could cause our net patient service revenue and profits to materially decline
23 _________________________________________________________________ [73]Table of Contents We are subject to a Medicare cap amount which is calculated by Medicare
Our net patient service revenue and profitability could be adversely affected by limitations on Medicare payments and Medicare cap calculations
Overall payments made by Medicare to us are subject to a cap amount calculated by the Medicare fiscal intermediary at the end of the hospice cap period
The hospice cap period runs from November 1st of each year through October 31st of the following year
Total Medicare payments to us during this period are compared to the cap amount for this period
Payments in excess of the cap amount must be returned by us to Medicare
The cap amount is calculated by multiplying the number of beneficiaries electing hospice care during the period by a statutory Medicare cap amount that is indexed for inflation
Our estimated accrued Medicare cap contractual adjustment was approximately dlra7dtta7 million for the twelve month period ended October 31, 2005
The Medicare cap amount for the twelve month period ending October 31, 2006 has not been established by Medicare
Once published, the new Medicare cap amount will become effective retroactively for all services performed since November 1, 2005
The hospice cap amount is computed on a program-by-program basis
Our net patient service revenue for 2005 was reduced by approximately dlra12dtta0 million as a result of our hospice programs exceeding the Medicare cap
Our ability to comply with this limitation depends on a number of factors relating to a given hospice program, including number of admissions, average length of stay and mix in level of care
Our revenue and profitability may be materially reduced if we are unable to comply with this and other Medicare payment limitations
We cannot assure you that additional hospice programs will not exceed the cap amount in the future or that our estimate of the Medicare cap contractual adjustment will not materially differ from the actual Medicare cap amount
We operate in an industry that is subject to extensive federal, state and local regulation, and changes in law and regulatory interpretations could reduce our net patient service revenue and profitability
The healthcare industry is subject to extensive federal, state and local laws, rules and regulations relating to, among others: • payment for services; • conduct of operations, including fraud and abuse, anti-kickback prohibitions, physician self-referral prohibitions and false claims; • privacy and security of medical records; • employment practices, including wage and hour laws and regulations; and • facility and professional licensure, including certificates of need, surveys, certification and recertification requirements, and corporate practice of medicine prohibitions
In recent years, Congress and some state legislatures have introduced an increasing number of proposals to make significant changes in the healthcare system
Changes in law and regulatory interpretations could reduce our net patient service revenue and profitability
Recently, there have been heightened coordinated civil and criminal enforcement efforts by both federal and state government agencies relating to the healthcare industry
There has also been an increase in the filing of actions by private individuals on behalf of the federal government against healthcare companies alleging the filing of false or fraudulent Medicare or Medicaid claims
This heightened enforcement activity increases our potential exposure to damaging lawsuits, investigations and other enforcement actions
Any such action could distract our management and adversely affect our business reputation and profitability
We were the subject of a civil investigation by the Civil Division of the United States Department of Justice (“DOJ”)
We have reached an agreement in principle with the DOJ to permanently settle the investigation for dlra13dtta0 million
Final resolution remains subject to the negotiation and approval of a definitive settlement agreement and definitive corporate integrity agreement
There can be no assurance that the definitive agreements will be executed or that the agreements will not have a material