How can Paisley & Elm Untangle your Medicare Cost Report:
- Rejections are close to 10% of all filed cost reports – Paisley & Elm has never had a rejected cost report in 27 years.
- A large percentage of filed cost reports are inaccurate - Paisley & Elm completes continuing education on cost report preparation to insure the accuracy of the reports.
- Most cost reports filed use incorrect data - Paisley & Elm reviews the information to isolate any inconsistencies.
- Bad decisions can be made by Management on incorrect cost report data – At Paisley & Elm part of the process is to identify errors in the data.
- Future rates are set on Filed Medicare Cost Report Data – Paisley & Elm reviews the cost report to make sure that all allowable Medicare costs are included accurately in the cost data.
Outsource your Medicare Cost Reporting to Paisley & Elm. Due Date: Medicare Cost Reports are due 5 months after the end of the fiscal period, or the cut off period determined by the MAC for Change of Ownership or for a Terminated Provider. Purpose of Report: The FQHC Medicare Cost Report is designed to report to Medicare the allowable Medicare cost per type of treatment (encounter) in the geographic area (MSA) of the provider, With this information Medicare can determine the cost to deliver Services in a geographic area by the allowable cost per treatment. Medicare Cost Report also reimburses for Bad Debt Expenses, but is reducing the rate of reimbursement for future periods. Type of Report: The Medicare Cost Report for FQHC is the 224-14. For Cost Reporting periods beginning on or after October 1, 2014, freestanding Federally Qualified Health Centers (FQHCs) cannot file their cost reports using form CMS 222-92 and will be required to use the proposed Form CMS 224-14. At Paisley & Elm we are familiar with the new changes incorporated into the new CMS 224-14 Report. Let our firm assist your agency with the new format and the new information Required by Medicare.
The staff at Paisley & Elm has over 27 years of Experience filing Medicare Cost Reports. The staff at Paisley & Elm have filed approximately 3,000 Medicare Cost Reports have been filed and accepted by the different MACs over the 27 year period, without any Cost Report Rejections from the Medicare Cost Report Audit Department.
Information gained through the Analysis of the Medicare Cost Report #224-14
- Cost Per Treatment (Encounter)
- Revenue per Treatment (Encounter)
- Bad Debt Calculation
- PPS amounts paid versus cost to provide services