Any of the experts at SimiTree will tell you there’s no one-size-fits-all solution for our clients. In fact, we’ve built our business on tailoring solutions to meet varying needs of providers of all sizes, both freestanding and system-based, in post-acute fields as diverse as home health, hospice, private duty and behavioral health.
But Michael Simione believes there may be one exception to the SimiTree commitment to avoid cookie-cutter fixes.
His three-pronged approach to success will work anytime, anywhere, for any agency, whether it’s applied to cost reporting, budgeting, or any other aspect of the agency’s finances.
Simione’s formula for success is:
• Take the time to do it right.
• Approach it from a smarter perspective, using all the available tools and data to view the entire picture.
• Be strategic, thinking ahead, to develop realistic action plans
Making stronger decisions
Simione consistently applies this approach in his role as Director of Cost reporting at SimiTree, understanding how important cost reporting accuracy is to the financial future of the industry. Simione said data collected from cost reports is used by Medicare to determine reimbursement rates, rebase labor shares and more.
His meticulous approach to getting it right has earned SimiTree a front-runner reputation in cost reporting. Year after year, SimiTree is the nation’s leader preparer of cost reports for Medicare-certified home health agencies.
Simione said agencies appreciate the exceptional value accuracy in cost reporting brings to agency- level decision-making as well as its impact on future payment rates.
“Having the right data available is crucial for financial projections and growth planning,” he said. “Accurate cost reports provide our clients a window to stronger decisions that support financial success, growth and profitability.”
Building better budgets
With more than a decade of experience in financial consulting and expertise in budgeting, data analytics and benchmarking, Simione focuses on helping clients use key performance indicators to set realistic goals and timelines.
“It’s rewarding to work with clinical, operational and financial staff, often presenting complex and intricate topics that might be new to home health and hospice,” Simione said
Simione is one of SimiTree’s leading experts on the Patient-Driven Groupings Model (PDGM) and Home Health Value-Based Purchasing (HHVBP). He is a frequent presenter on financial topics at conferences and state association events.
He particularly enjoys sharing strategies for stronger, more reliable budgeting, and often presents educational sessions on budget development.
Simione earned a Bachelor of Science in Chemistry from Bucknell University, graduating magna cum laude, and a Master of Business Administration (MBA) from Quinnipiac University, where he received the Faculty Award for Academic Excellence as the top graduate in his class.
A CrossFit enthusiast
Simione grew up in Connecticut, and has lived in Phoenix, AZ, for the past 10 years. He is an avid outdoor and fitness enthusiast who regular enjoys hiking in Arizona and traveling to explore outdoor adventures throughout the country. He is as meticulous about his fitness regimen as he is about financial accuracy and fits in his CrossFit training wherever he travels. To date he has visited more than 100 gyms across the country.