Medicare Cost Report Preparation Strategies
Our Medicare Cost Report Preparation, Reimbursement & Cost Report Services Strategies for enhanced reimbursement. With the increasing pressure on hospital margins, it is imperative that providers obtain accurate reimbursement from Medicare and Medicaid as well as other third-party payors in order to file an accurate Medicare Cost Report.
You can benefit from our experience with Medicare Cost Report Preparation since the inception of Medicare for hospitals and health systems of all sizes and types, including critical access hospitals (CAHs). We have a team dedicated to Medicare Cost Report Preparation and defending them through reviews and appeals. Our Medicare Cost Report Preparation team keeps up with changes in Medicare Cost Reports and requirements to better serve you and includes members who have hands-on experience with reimbursement issues on both sides – Medicare and hospitals.
We have helped numerous clients increase their reimbursement by assisting them with conversion to special Medicare status such as sole community provider, regional referral center, and critical access hospital.
We’ve also assisted them with various Medicare prospective payment systems (PPS) reimbursement issues such as:
- Wage index analysis
- Disproportionate Share Hospital (DSH)
- Medicare bad debt optimization
For academic medical centers, we’ve assisted in proper reporting for post acute transfer issues, graduate medical education (GME), independent medical examiners (IME), and organ transplant costs. On behalf of hospitals and health systems, VieraCPA also has negotiated with various third-party payors including state Medicaid programs.
As part of our Medicare Cost Reports preparation service, we provide a summary of observations and recommendations about the data provided for the cost report as well as opportunities to enhance reimbursement in the future. We’ll help you interpret the results of your Medicare Cost Reports so you know if you make or lose money on individual service lines.
State Statutes require applicants to show anticipated provider revenue and expenditures, the basis for financing anticipated cash-flow requirements of the provider, and an applicant’s access to contingency financing. All schedules must be prepared in accordance with generally accepted accounting principles (GAAP). CPA Firms must compile, examine, or apply agreed-upon procedures to prospective financial statements, including summaries of significant assumptions and accounting policies. An applicant will have demonstrated Proof of Financial Ability to Operate by completing schedules 1-7 in conformity with the below instructions and GAAP, all relevant rules and statutes, and projections that show assets, credit, and projected revenues meet or exceed projected liabilities and expenses and Independent evidence of sufficient funds for starting a Home Health Care Agency, working capital & contingencies.