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Medicare Cost Reports – home health cost report and hospice cost reports

Medicare Cost Report Preparation

Paisley & Elm

Experts in the preparation of Medicare Cost Reports

All Types of Medicare Cost Reports

Cost Reports for Skilled Nursing Facility, Home Health Care, Hospice Agency, Renal Facility, Federally Qualified Health Centers and Hospitals.

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Use a qualified firm to complete Interim CAP Reports

Qualified staff has the experience and the up to date knowledge on Medicare.

Interim CAP Report

Paisley and Elm has over 23 years of experience in Medicare Cost Reports and Hospice CAP reports in all 50 States.

See Hospice Capitation Report

Medicare Cost Report Types

Medicare Cost Reports

Experience of Paisley & Elm

Successful submission of Medicare Cost Reports – The staff has submitted approximately 3,000 Medicare Cost reports in the last 22 years, all successfully without rejection or issues. We provide services in all 50 States for Medicare Cost Reports.

Follow up with Medicare Cost Report Auditors – The staff has assisted over the last 22 years in numerous Medicare Cost Report Audits. With our experience and knowledge of cost report submissions we can easily facilitate the inquiry from Medicare Cost Report Auditors effectively and efficiently

Experience – we have over 22 years experience in filing Medicare Cost Reports and /Medicaid Cost Reports. We have experience with all MACs (Medicare Administrative Contractors) in the United States, so we are familiar with responding to Auditors from each one.

Our experience

Type of Medicare Cost Reports We Prepare

  • Home Health Care
  • Hospice Agency
  • Skilled Nursing Facility
  • Renal Dialysis Centers
  • Rural Health Clinics
  • Community Mental Health Centers
  • Federally Qualified Health Centers
  • Critical Access Hospitals
  • PPS Hospitals

All Types of Cost Reports

Medicare Cost Reports

Medicare certified institutional providers are required to submit an annual cost report to a Medicare Administrative Contractor. The cost report contains provider information such as facility characteristics, utilization data, cost and charges by cost center, in total and for Medicare, Medicare settlement data, and financial statement data. CMS maintains the cost report data in the Healthcare Provider Cost Reporting Information System, HCRIS. HCRIS includes subsystems for the Hospital Cost Report CMS 2552 96 and CMS 2552 10, Skilled Nursing Facility Cost Report CMS 2540 96, Home Health Agency Cost Report CMS 1728 94, Renal Facility Cost Report CMS 265 94, Health Clinic Cost Report CMS 222 92 and Hospice Cost Report CMS 1984 99.

3000 Reports Submited
23 Years of Experience
50 States
9 Types of Medicare Cost Reports

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Call us today to get more information on Cost Report filing
Joseph Kenny, CPA, CMA

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Medicare Cost Reports

Purpose and Important data in Medicare Cost Report Preparation

Purpose

Medicare requires that providers of certain services are required to prepare on an annual basis a cost report which shows the total expenses to provide services and the Medicare allowable expenses used by CMS to review and adjust rates. The information is also used by MedPac, Medicare Payment Advisory Services Commission, to advise the US Congress on the financing and delivery of care.

Parts of the Medicare Cost Reports are used to determine wage adjustments for the labor components for services in certain geographic areas of the United States. Also, for some PPS providers the Bad Debts are calculated and reimbursed according to CMS policy.

The accuracy of the wage index information along with the Bad Debt Accuracy in producing the cost reports are of extreme importance. If they are calculated incorrectly, the provider is under reimbursed for allowable services provided.

Medicare Cost Reports

Important Data

Key Metrics in Cost Report data

In all types of Medicare Cost Reports there are key Matrices that show the management how well the provider is delivering the care to the community.
Some examples are:
Skilled Nursing Facility (SNF) – General Inpatient Cost per Diem, Average Length of Stay and PPS amounts compared to Cost.
Home Health Agency (HHA) – Revenue per Episode, Cost per Episode, and Utilization per Episode.
Hospice Agency – Average Cost Per Diem, Average Revenue per Diem and Capitation Calculation on an interim basis.
Rural Health Clinics – PPS rate compared to per Diem Costs, Bad Debt calculations.
Federally Qualified Health Clinics – PPS Rate compared to Per Diem Costs, Bad Debt Calculations.
PPS Hospital – Wage Index information, Bad Debt calculations.
Critical Access Hospitals – Cost to Charge Ratio, Case Payer Mix, Bad Debt calculations.

Each area of Health care has a set of key performance indicators, which relate to Costs of Delivering Care.

Metrics used in the industry – Each type of provider has key Matrices to measure efficiency and effective deliver of care.

Provider Payments are reduced each year and it is important for each facility to deliver more care for less costs.

A valid way to analyze this information is to breakdown the Medicare Cost Report into key components and compare to industry averages to see how your facility compares to the broader market.

Key Operating Statistics

Successful submission of Medicare Cost Reports – The staff has submitted approximately 3,000 Medicare Cost reports in the last 22 years, all successfully without rejection or issues. We provide services in all 50 States for Medicare Cost Reports.
Follow up with Medicare Cost Report Auditors – The staff has assisted over the last 22 years in numerous Medicare Cost Report Audits. With our experience and knowledge of cost report submissions we can easily facilitate the inquiry from Medicare Cost Report Auditors effectively and efficiently
Experience – we have over 22 years experience in filing Medicare Cost Reports and /Medicaid Cost Reports. We have experience with all MACs (Medicare Administrative Contractors) in the United States, so we are familiar with responding to Auditors from each one.

Experience of Paisley and Elm

Address

Joseph Kenny, CPA, CMA
Paisley & Elm, LLC
3614 North Springfield Ave
Chicago, Illinois 60618
Cellular 312-203-1771
Fax 312-275-7967

Contact details

E-mail address:
jkenny@medcostreports.com

312-203-1771

To get more information on Cost Report filing
Joseph Kenny, CPA, CMA