The nation’s leader in Medicare cost report preparation.
Cost reporting is becoming a much more detailed task as CMS seeks increasingly specific information on visits and patients by discipline, salaries, benefits, contract pay and more. Adequate preparation can be a time-consuming drain on agency resources, requiring the finance and operations team to have:
- Knowledge of regulatory requirements
- Expertise in acceptable allocation methodologies
- Comprehensive supporting documentation
Many agencies sidestep the burden by contracting out their cost reporting work each year. The choice of provider is an important one. Costs detailed in these reports must be an accurate representation of the cost of doing business because CMS relies on cost reports to determine labor shares and reimbursement rates for home health and hospice.